Indonesian Stocks Plunge as MSCI Downgrade Risk Sparks Investor Exodus 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
Asian Currencies Trade Flat as Dollar Retreats After Fed Decision 
Trump to Announce New Federal Reserve Chair Pick as Powell Replacement Looms 
Philippine Economy Slows in Late 2025, Raising Expectations of Further Rate Cuts 
Oil Prices Surge Toward Biggest Monthly Gains in Years Amid Middle East Tensions 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
Asian Stocks Waver as Trump Signals Fed Pick, Shutdown Deal and Tech Earnings Stir Markets 
U.S. Dollar Slides for Second Week as Tariff Threats and Iran Tensions Shake Markets 
India Budget 2026: Modi Government Eyes Reforms Amid Global Uncertainty and Fiscal Pressures 
Oil Prices Hit Four-Month High as Geopolitical Risks and Supply Disruptions Intensify 
Wall Street Slips as Tech Stocks Slide on AI Spending Fears and Earnings Concerns 
U.S.–Venezuela Relations Show Signs of Thaw as Top Envoy Visits Caracas 
Gold Prices Pull Back After Record Highs as January Rally Remains Strong 
Copper Prices Hit Record Highs as Metals Rally Gains Momentum on Geopolitical Tensions 
Asia Stocks Pause as Tech Earnings, Fed Signals, and Dollar Weakness Drive Markets 
Hyundai Motor Reports 7% Decline in Q3 Operating Profit
Hyundai Motor Co. announced a 7% decline in operating profit for the third quarter of 2024, primarily due to warranty costs related to its Santa Fe SUVs and a global slowdown in car demand. The automaker, along with its affiliate Kia Corp, ranks as the world’s third-largest car manufacturer by sales.
From July to September, Hyundai's operating profit was 3.6 trillion won ($2.6 billion), a decrease from the 3.8 trillion won reported in the same quarter last year. This figure also fell short of the 3.9 trillion won average predicted by 20 analysts surveyed by LSEG SmartEstimate, a service focusing on consistently accurate forecasts.
In a statement, Hyundai Motor acknowledged the ongoing uncertainty in the business environment, predicting a slowdown in major markets. The quarterly results included provision costs of 320 billion won associated with a warranty extension for Santa Fe engines sold in the United States.
Following the earnings report, Hyundai’s share price dropped by 3.7%. The broader automotive sector is facing challenges, as major European manufacturers like Volkswagen, Mercedes-Benz, and BMW have also indicated a declining outlook, with rising costs significantly impacting market valuations.
Hyundai's global retail sales experienced a 5% decline year-over-year, with reduced sales in Europe countered by gains in the U.S. and South Korea. Notably, while sales of electric vehicles declined, hybrid vehicle sales surged over 40% compared to last year.
In response to changing market dynamics, Hyundai plans to double its hybrid vehicle lineup and adjust its electric vehicle sales targets, delaying the development of certain EV models.
