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Hyundai Motor shares jump on plan for new China factory
March 26, 2014 / 1:06 AM / 3 years ago

Hyundai Motor shares jump on plan for new China factory

SEOUL, March 26 (Reuters) - Shares in Hyundai Motor rose more than 3 percent on Wednesday after the automaker said it planned to sign a preliminary deal on Thursday to build the automaker’s fourth manufacturing plant in China.

Group chairman Chung Mong-koo plans to sign the deal to build the new plant in Chongqing, Hyundai said on Wednesday.

Hyundai shares were up 3.2 percent at 240,000 Korean won each, beating the wider market’s 0.7 percent rise as of 0057 GMT.

Reporting by Hyunjoo Jin; Editing by Paul Tait

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