Hyundai Motor shares down 3 percent as dollar breaks above 100 yen

SEOUL Thu May 9, 2013 8:59pm EDT

An employee walks between parked Hyundai cars ready for shipment at a port in Chennai February 22, 2010. REUTERS/Babu

An employee walks between parked Hyundai cars ready for shipment at a port in Chennai February 22, 2010.

Credit: Reuters/Babu

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SEOUL (Reuters) - Shares in South Korean automaker Hyundai Motor (005380.KS) slumped 3 percent to their lowest in more than two weeks on Friday, a day after the U.S. dollar broke through 100 yen.

A cheaper yen makes South Korean exports less price-competitive than their Japanese counterparts and has hit automakers hard in particular. The dollar has hit its highest level against the Japanese currency in more than four years.

Hyundai Motor shares were down 2.8 percent, while affiliate Kia Motors (000270.KS) slid 3 percent at 8.34 p.m. ET.

(Reporting by Hyunjoo Jin; Editing by Paul Tait)

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