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Hyundai, Kia shares tumble after Apple report

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Shares of South Korean automakers Hyundai Motor and Kia Motors fell Monday after the companies denied a report that they're in talks with Apple to develop an autonomous vehicle.

"Hyundai Motor is getting requests from multiple companies for cooperation in joint development of autonomous, electric vehicles but nothing has been decided since it's in early stage," officials said.

Shares had been on the rise at the companies since reports of the Apple talks surfaced last month.

Read more from CNBC.

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