Kia Motors shares skid to over four-year low on poor earnings
[SEOUL] Shares in Kia Motors extended losses to their lowest intraday level in more than four years on Monday after the South Korean automaker reported disappointing fourth-quarter profit on Friday, prompting brokerages to downgrade target share prices.
Kia Motors' shares ended down 5.7 per cent at 46,550 won (US$43) each, after earlier touching their lowest level intraday since November 2010. The wider market ended almost flat on Monday.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Porsche posts Q1 profit drop on ramp-up costs
Air China orders homegrown C919s in challenge to jet duopoly
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US