Seoul, March 18 (IANS) South Korea’s auto exports fell 20.8 per cent from a year earlier in February due to a decline in the number of working days for the month, government data showed on Wednesday.The combined value of automobile exports came to US$4.8 billion last month, according to the data from the Ministry of Trade, Industry and Resources, reports Yonhap news agency.February’s performance was due to a drop in the number of working days for the month amid the Lunar New Year holiday, the mi…
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New Delhi, March 4 (IANS) Seoul shares plunged more than 12 per cent on Wednesday, closing below the 5,100-point mark, as mounting concerns over the economic fallout from the escalating Middle East conflict rattled investor sentiment. The Korean won also fell sharply against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 698.37 points, or 12.06 per cent, to close at 5,093.54, extending losses from a 7.24 per cent drop in the previous session, reports Yonhap news ag…
Seoul, March 4 (IANS) Hyundai Motor and Kia reported record vehicle sales for February in the United States, driven by robust demand for sport utility vehicles (SUVs) and hybrid models, the automakers said on Wednesday.The South Korean automakers sold a combined 137,412 vehicles in the U.S. last month, up 5 percent from a year earlier, according to the companies, reports Yonhap news agency.Hyundai Motor, including its luxury brand Genesis, sold 71,407 units, up 5.7 percent on-year, while Kia’s s…
Seoul, March 4 (IANS) Seoul shares extended losses late on Wednesday morning, falling more than 8 per cent, as escalating concerns over the economic fallout from the Middle East conflict continued to weigh on investor sentiment.After opening 3.44 per cent lower, the Korea Composite Stock Price Index (KOSPI) extended its losses, tumbling 468.98 points, or 8.1 per cent, to 5,322.93 as of 11:45 a.m., following a plunge of more than 7.24 percent the previous session.The Korea Exchange (KRX) triggere…
Seoul, Feb 25 (IANS) Seoul shares jumped nearly 2 per cent on Wednesday to surpass the 6,000-point mark for the first time, lifted by extended gains in technology and automobile stocks. The Korean won sharply rose against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) advanced 114.22 points, or 1.91 per cent, to finish at a record high of 6,083.86 after hitting an intraday high of 6,144.71. The KOSPI has rallied for the fifth consecutive day, reports Yonhap news agency.Tra…
Seoul, Feb 25 (IANS) Hyundai Motor, Kia and BMW Korea will voluntarily recall 107,158 vehicles across 37 models due to manufacturing defects that could pose fire risks, the transport ministry said on Wednesday.According to the ministry, 37,690 units of four Hyundai models, including the Kona Electric, are subject to corrective measures over a battery management system (BMS) software issue, which could prevent early detection of fire risks.Kia will recall 1,590 units of the Niro electric vehicle …
Seoul, Feb 4 (IANS) Hyundai Motor and Kia reported record vehicle sales for January in the United States, driven by strong demand for sport utility vehicles (SUVs) and hybrid models, the automakers said on Wednesday.The two automakers sold a combined 125,296 vehicles in the U.S. last month, up 7.7 percent from a year earlier, according to the companies, reports Yonhap news agency.Hyundai Motor, including its luxury brand Genesis, sold 60,794 units, up 2.4 percent on-year, while Kia’s sales jumpe…
Seoul, Jan 26 (IANS) South Korean stocks closed lower on Monday to snap three consecutive days of rise ahead of a U.S. rate-setting meeting, with investors sitting on the sidelines amid geopolitical uncertainties in Iran.The Korean won sharply gained against the U.S. dollar, and the tech-laden KOSDAQ surged by more than 7 percent to land above 1,000 for the first time in more than four years, reports Yonhap news agency.The benchmark Korea Composite Stock Price Index (KOSPI) fell 40.48 points, or…
Seoul, Jan 20 (IANS) The market capitalisation of Hyundai Motor on Tuesday touched above the 100 trillion-won ($67.7 billion) level for the first time on Tuesday, backed by growing investor optimism over its robotics and autonomous driving initiatives, industry watchers said.The share price of Hyundai Motor rose as high as 496,500 won in early trading, briefly lifting the company’s market capitalization to more than 101.66 trillion won, reports Yonhap news agency.The gains, however, were reverse…
Amaravati, Jan 18 (IANS) Andhra Pradesh Chief Minister Chandrababu Naidu on Sunday dismissed the allegations of the Opposition YSR Congress Party that the coalition government is indulging in ‘credit theft’.The Chief Minister said that after the alliance came to power in the State, development and welfare programmes are being implemented on a large scale, but people are trying to claim credit for them.Addressing a meeting at the Telugu Desam Party (TDP) office on the death anniversary of par…