[Featured Stocks] Defense Stocks Rise Amid Escalating US-Iran Tensions
[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.
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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.
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