0353 GMT - Hyundai Motor is facing margin pressure from the won's appreciation, as are other South Korean exporters, says Nomura's Angela Hong. For every 1% appreciation in the won against the dollar, the South Korean automaker's operating profit falls 1.5% to 2%, the analyst says. Hong notes that the local currency has appreciated about 13% against the greenback since July 2. She also reduces the fair value of the company's U.S.-based robotics affiliate, Boston Dynamics, to 55 billion won from 115 billion won previously, based on a newly estimated average selling price for Atlas humanoid robots. Nomura cuts its target price for the company's stock to 520,000 won from 600,000 won, while keeping a buy rating. Shares are 2.3% lower at 380,000 won.