Hyundai Motor shares down 5 pct on weaker yen, U.S. recall
SEOUL, April 5
SEOUL, April 5 (Reuters) - Shares in Hyundai Motor Co extended their recent slide to fall more than 5 percent on Friday, as the yen's weakness further soured sentiment hurt by plans to recall a record number of cars in the United States.
Other car companies plunged, leading the wider market's fall, undermined by prolonged tension over North Korea.
The yen slumped to a 3-1/2 year low versus the dollar on Friday, extending falls after the Bank of Japan announced a radical campaign of monetary expansion, likely to give a price advantage to Japanese exporters.
Hyundai Motor fell 5 percent and its affiliate Kia Motors Corp fell more than 3 percent on Thursday after the world's fifth-biggest automobile group it would recall nearly 1.9 million vehicles in the U.S. mainly due to a potentially faulty switch for brake lights. (Reporting by Hyunjoo Jin)
- Divers feel with their hands for corpses in depths of South Korean ferry |
- Obama reassures Japan, other allies on China ahead of visit
- Satellites show North Korea nuclear test unlikely: think tank
- Teen who stowed away on Hawaii flight resting in hospital
- China factory activity shrinks for fourth month |