SEOUL (Reuters) -Shares of South Korea’s Kia Corp 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 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 were trading up 0.9%, versus benchmark KOSPI’s 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)
