The market capitalization of Hyundai Motor exceeded $67.7 billion for the first time, driven by investor optimism in its robotics and autonomous driving ventures. Initially reaching 101.66 trillion won, the share price later dropped, leading to a market capitalization of 98.9 trillion won. Hyundai’s robotics strategy, including Boston Dynamics’ humanoid robot Atlas, and its autonomous driving plans, notably with Motional, have been pivotal in this surge. Investors are acknowledging the potential of humanoid robotics for Hyundai Motor, with expectations of continued growth until 2028.
South Korean stocks ended lower, breaking a 12-day winning streak, with major chipmakers and automakers experiencing profit-taking. The Korea Composite Stock Price Index (KOSPI) closed at 4,885.75, after touching a record intraday high of 4,935.48. Hyundai Motor and its affiliate Kia saw declines in their share prices, reflecting the broader market trend.
