[Featured Stock] Defense Stock Perstek Hits Upper Limit Amid US-Iran Conflict
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[Asia Economy Reporter Minwoo Lee] Defense stocks are showing strength amid military clashes between the United States and Iran.
On the 8th, in the Korea Composite Stock Price Index (KOSPI) market, the defense company Purstek, which manufactures weapons and ammunition, hit the upper price limit. It is trading at 2,975 KRW, up 29.91% (685 KRW) compared to the previous trading day.
Other defense stocks such as VICTEK (22.05%), SPECO (18.86%), and Hanil Forging (16.25%) also surged sharply.
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This is interpreted as a result of escalating military clashes between the United States and Iran. According to major foreign media including CNN, Iran launched missiles at a U.S. military base in Iraq on the 7th (local time). This was retaliation for the U.S. airstrike that killed Qasem Soleimani, the influential commander of the Quds Force of the Islamic Revolutionary Guard Corps (IRGC) of Iran.
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