March 21, 2017 2:56 pm JST

Hyundai Motor shares rally on restructuring hope

© AP

SEOUL (Reuters) -- Hyundai Motor Co shares extended their rally on Tuesday, rising nearly 9 percent on hopes the automaker and its affiliates will be restructured.

Market speculation is that activist hedge fund Elliott Management Corp may have bought a share in Hyundai Motor, South Korea's top automaker, analysts said. Elliott did not immediately comment.

Hyundai Motor shares rose to their highest level since May 13, 2015.

Its affiliates, Kia Motors Corp and Hyundai Mobis Co Ltd, climbed more than 4 percent.

Asia300

Hyundai Motor Co., Ltd.

South Korea

Market(Ticker): KRX(005380)
Sector:
Industry:
Consumer Durables
Motor Vehicles
Market cap(USD): 34,326.06M
Shares: 285.47M

Get Insights on Asia In Your Inbox

To read the full story, Subscribe or Log in

Get your first month for $0.99

Redeemable only through the Subscribe button below

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.

To read the full story, Subscribe or Log in

Once subscribed, you can…

  • Read all stories with unlimited access (5 articles per month without subscription)
  • Use our smartphone and tablet apps

To read the full story, Subscribe or Log in

3 months for $9
SUBSCRIBE TODAY

Take advantage of this limited offer.
Subscribe now to get unlimited access to all articles.

To read the full story, Update your account

We could not renew your subscription.
You need to update your payment information.