South Korean shares lower

South Korean shares edged lower on Thursday, weighed by nagging concerns over slowing global growth, although losses were capped by a late rally in Hyundai Motor Co after the release of its third-quarter earnings outlook. The Korea Composite Stock Price Index (KOSPI) shed 0.27 percent to close at 1,931.65. Hyundai Motor missed consensus forecasts by reporting a 29 percent fall in net profit for the July-September quarter, but the automaker said fourth-quarter profit was seen to be improving and that it was mulling a sizable increase in dividend rates.
Hyundai shares jumped on the news to close 5.9 percent higher, its biggest one-day gain since April 3, 2012. Hyundai's sister automaker Kia Motors Corp gained 2.8 percent, while auto-parts manufacturer Hyundai Mobis Co Ltd soared 4.8 percent following the news.