UPDATE 2-Hyundai Motor Q2 net shrinks as costs bite

Newswire

(Adds fund manager, company comments, details, shares) By Kim Kyoung-wha SEOUL, July 29 (Reuters) - Hyundai Motor Co. , South Korea's top auto maker, reported an 11 percent drop in second-quarter profits on Thursday, pinched by higher steel prices and slow domestic sales, but the fall was less than expected. Healthy exports to China and Europe led sales higher and compensated for lagging demand at home, where consumers are shackled by huge credit card debts. Domestic sales are ...

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