Hyundai shares falls in Seoul Trading as Beijing plans car limit

Hyundai Motor Co. fell for a second day after the city of Beijing decided to limit the number of new passenger vehicles in the Chinese capital to ease congestion.

South Korea's biggest automaker declined 2.8 percent to 173,500 won as of 10:54 a.m. on the Korea Exchange, while the benchmark Kospi stock index fell 0.3 percent. Affiliate Kia Motors Corp. declined 2.3 percent.

"Beijing's move to limit the number of new cars as well as China's fresh monetary tightening have raised some concern about demand there and are affecting sentiment today," said Song Seong Yeob, a fund manager at KB Asset Management Co. in Seoul, which oversees the equivalent of $17 billion in assets.