Monday, May 6, 2013

Reuters: Global Markets: Hyundai Motor shares fall more than 3 percent, lowest in more than a week

Reuters: Global Markets
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Hyundai Motor shares fall more than 3 percent, lowest in more than a week
May 7th 2013, 01:22

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The logo of Hyundai Motor Co. is seen on a wheel of a car at a Hyundai dealership in Seoul April 25, 2013. REUTERS/Kim Hong-Ji

The logo of Hyundai Motor Co. is seen on a wheel of a car at a Hyundai dealership in Seoul April 25, 2013.

Credit: Reuters/Kim Hong-Ji

SEOUL | Mon May 6, 2013 9:22pm EDT

SEOUL (Reuters) - Shares in Hyundai Motor (005380.KS) extended falls to more than 3 percent in early trade on Tuesday, weighed down by the latest strength in the won currency and mounting concerns about labor relations, analysts said.

"There are talks weekend shifts are not being enforced," said Ryu Yeon-hwa, an analyst at IM Investment & Securities, adding that would negatively affect manufacturing efficiency.

Hyundai Motor shares were down 3 percent to 193,000 won at 9.13 p.m. ET, the lowest level seen in more than a week and falling for a second day in a row.

(Reporting by Jungyoun Park and Hyunjoo Jin; Editing by Paul Tait)

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