[Featured Stock] Defense Growth Daesung Hitech Rises on News of Supply Expansion to Europe and Israel

The stock price of Daesung Hightech, a manufacturer of precision parts and compact machining centers, is showing strong performance. The news that the company is pushing to supply to regions such as Europe and Israel, and is also collaborating with major domestic defense companies, appears to have acted as a positive factor.

At 9:29 a.m. on the 5th, Daesung Hightech's stock price recorded 4,490 won, up 16.32% from the previous close. This marks a two-day consecutive rise following a limit-up close the day before.

It is interpreted that the news of producing ultra-precision parts for short-range missiles locally in Europe, as well as the high possibility of signing a long-term parts supply contract with an Israeli company, positively influenced the stock price. Additionally, the news that joint development of export products is underway with a major domestic defense company served as an overlapping positive factor. Through this, it is expected that the sluggish orders in the industrial machinery sector can be compensated by the defense sector.