[Featured Stocks] Hyundai Motor and Kia Parts Stocks Rise on Export Boom... Nexen Tire Up 8%

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] It has been confirmed that Hyundai Motor and Kia recorded double-digit growth rates in overseas export performance last August, leading to a corresponding strength in auto parts stocks.

As of 9:48 a.m. on the 2nd, Nexen Tire is trading at 7,010 KRW, up 8.01% compared to the previous trading day on the KOSPI market.

Hwashin, a medium-to-large automobile body manufacturer that mainly supplies Hyundai Motor and Kia, is showing 11,300 KRW, up 2.73% at the same time. On this day, Hwashin reached an intraday high of 11,850 KRW, up 7.73%, setting a new 52-week high.

Hyundai Mobis is recording 213,000 KRW, up 0.47%, and at one point during the day rose to 218,500 KRW, up 3.07%. Mando and Hyundai Wia also recorded increases in the 1-3% range.

At the same time, Hyundai Motor is at 200,000 KRW, up 2.30% compared to the previous trading day, and Kia is at 81,300 KRW, up 1.37%.

The day before, Hyundai Motor and Kia announced that they achieved total sales of 574,681 units in domestic and overseas markets last August. In particular, the overseas performance showed a remarkable upward trend, with Hyundai Motor recording export performance of 285,570 units overseas, up 14.7% year-on-year. Kia recorded overseas sales of 198,483 units during the same period, up 12.6%.