Business · Markets · 1 hr ago
Middle East tensions lift South Korean defense stocks
Missile attacks and rising military tensions in the Middle East lifted South Korean defense shares early on Oct.
16.
Hanwha Aerospace shares rose 8.25% to 892,000 won by 9:54 a.m., according to the Korea Exchange.
Hanwha Systems gained 10.25%, while LIG Defense & Aerospace and Hyundai Rotem also rose.
Investors bought defense stocks as regional uncertainty returned to focus.
The price moves show how geopolitical tensions can affect demand for shares in defense companies.
The account gives no further details about the attacks or what may happen next.
South Korean defense stocks rose in early trading on Oct. 16 as military tensions in the Middle East intensified.
Hanwha Aerospace was up 8.25% at 892,000 won at 9:54 a.m., according to the Korea Exchange.
Hanwha Systems rose 10.25%, while LIG Defense & Aerospace gained 6.18%.
Hyundai Rotem shares were up 5.88%.
The report said renewed geopolitical uncertainty in the Middle East drew buying into defense stocks.
- Who
- South Korean defense companies, including Hanwha Aerospace, Hanwha Systems, LIG Defense & Aerospace and Hyundai Rotem.
- What
- Their shares rose in early trading.
- When
- Oct. 16; prices were reported at 9:54 a.m.
- Where
- South Korea's stock market.
- Why
- Renewed military tensions and geopolitical uncertainty in the Middle East drew buying into defense stocks.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Hanwha Aerospace
- Up 8.25% to 892,000 won at 9:54 a.m.
- Hanwha Systems
- Up 10.25%
- LIG Defense & Aerospace
- Up 6.18%
- Hyundai Rotem
- Up 5.88%
- Date
- Oct. 16