© Reuters. FILE PHOTO: The logo of Kia Motors is seen on a wheel of its Carnival car at the India Auto Expo 2020 in Greater Noida, India, February 5, 2020. REUTERS/Anushree Fadnavis/File Photo

SEOUL (Reuters) -Shares of South Korea’s Kia Corp reversed losses and edged up on Wednesday after the automaker said on Tuesday that its third-quarter earnings will reflect an additional provision of 1.54 trillion won ($1.08 billion) for engine recalls from years ago.

Kia’s shares fell shortly after the market open.

Hyundai Motor and affiliate Kia on Tuesday said they will book a combined 2.9 trillion won ($2 billion) provision in their third-quarter results.

Shares of Hyundai Motor were trading up 0.9%, versus benchmark ‘s 0.2% rise as of 0025 GMT.

($1 = 1,424.6400 won)

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here