[SEOUL] South Korean shares rose for a third straight day on Wednesday as auto shares were boosted by reports of a possible US$3.6 billion deal between Kia Corp and Apple.
The Kospi closed up 32.87 points, or 1.06 per cent, at 3,129.68, after gaining 1.5 per cent in early trade. The index rose 1.3 per cent on Tuesday. Kia Corp, an affiliate of Hyundai Motor, surged as much as 14.5 per cent to its highest level since September 1997, after local media reported the South Korean automaker and Apple will likely sign a deal in mid-February.
Hyundai Motor , the country's largest carmaker, also jumped as high as 5 per cent following robust US January sales of both the company and Kia.BT is now on Telegram!
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