Hyundai Motor, LGES stocks shine brighter amid bearish stock market
As the won-dollar exchange rate soared to a 13-year high recently, local stocks have generally become less attractive to foreign investors due to the weakened Korean currency. But some local stocks still remain popular among foreign investors. They have been focusing lately on buying LG Energy Solution (LGES) and Hyundai Motor. A weak won makes Korean automobiles cheaper to buy overseas, while LGES is expected to benefit from the implementation of the U.S. Inflation Reduction Act (IRA) by building a joint venture battery plant in America. According to the Korea Exchange (KRX), foreign investor...