SEOUL, Oct 19 (Reuters) – Shares of South Korea’s Kia Corp (000270.KS) 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 (005380.KS) 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 (005380.KS) were trading up 0.9%, versus benchmark KOSPI’s (.KS11) 0.2% rise as of 0025 GMT.
($1 = 1,424.6400 won)
Reporting by Heekyong Yang and Joyce Lee; Editing by Kim Coghill & Shri Navaratnam
