"China is in a consumption boom," said Liu Yang, who helps manage US$1.2 billion as a director at Atlantis Investment Management in Hong Kong. Chjinese "companies have been building up capacities to meet the big demand. The peak of earnings will come in the next two years." South Korea's Hyundai Motor surged 12 percent for the week to 53,300 won. Hyundai Motor expects 2004 sales to rise to a record 31.1 trillion won (US$26 billion) from 27.82 trillion won a year ago, chairman Chung Mong Ku told employees in a speech Friday.
Sales at Kia Motors will probably increase by a quarter to a record 16.67 trillion won, according to a stock exchange filing.
The stock climbed 9.6 percent to 11,400 won.
"Automakers will benefit from rising exports and economic recovery at home," said Park In Hee, who helps manage the equivalent of US$836 million at KB Investment Trust Management Co in Seoul.
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