SEOUL (March 21): Hyundai Motor Co shares gained the most in over five-and-a-half years on Tuesday on speculation that its parent group, controlled by Chairman Chung Mong-koo, will reorganise its ownership structure. Hyundai Motor said it does not comment on market speculation. "In contrast to the consensus view that Hyundai Mobis would become the ultimate holding company, we see Hyundai Motor as the nexus for restructuring," the bank said. Hyundai Motor shares ended up 8.6%, its biggest daily gain since August 2011. Hyundai Motor Group has not implemented any major restructuring as Chung, who turned 79 on Sunday, has shown no signs of handing power to his only son Chung Eui-sun.

Source: The Edge Markets March 21, 2017 08:26 UTC