[Asia Economy Reporter Park Jihwan] Defense stocks are showing a strong rally amid rising international tensions between the United States and Iran.
As of 9:53 a.m. on the 8th, VICTEK, a representative defense company, is trading at 4,130 KRW, up 16.01% from the previous trading day. Other companies such as SPECO (11.24%), PURSTEC (25.55%), Mirae I&G (16.15%), and Hanil Forging (11.29%) are also experiencing sharp increases.
The collective rise in defense stocks is attributed to the escalating tensions between the United States and Iran.
Earlier, foreign media including CNN reported that Iran fired 10 missiles at the Ain al-Asad U.S. Air Force base in Iraq. Iranian state television stated that this attack was an act of retaliation for the killing of Qasem Soleimani, a key figure in the Iranian military leadership.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
