[Market Focus] Israel Strikes Iran... Defense and Oil Stocks Surge

Defense industry stocks and oil-related stocks are showing strength. This is believed to be influenced by heightened geopolitical tensions in the Middle East following Israel's airstrike on Iran's nuclear facilities.

On June 13, Heungkuk Oil recorded 15,960 won, up 3,680 won (29.97%) from the previous trading day. Jungang Enervis, another oil-related stock, also hit the upper price limit, while Daesung Energy is rising by more than 26%. Defense industry stocks are also strong. Hanil Forging (18.58%), Victek (11.73%), and Speco (8.44%) are also on the rise.

Israeli media, citing military sources, reported that airstrikes were carried out on dozens of nuclear program and military facilities across Iran. International media also reported that a loud explosion was heard northeast of Tehran, the capital of Iran.

Yoav Gallant, Israel's Minister of Defense, announced the declaration of a special state of emergency nationwide. He stated, "Missile and drone attacks targeting Israel and civilians are expected in the near future."

An Israel Defense Forces spokesperson announced that from the morning of June 13, only essential activities would be permitted within Israel. Educational activities, gatherings, and commuting to workplaces, except for essential businesses, are prohibited.