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South Korean defence stocks rise as Asian markets fall into red
04:22
Asia Pacific
South Korean defence stocks rise as Asian markets fall into red
One of the last trading weeks of the year, and markets are mostly red - all but South Korea, that's up 0.2% and led by defense stocks now outperforming the broader Kospi. That's as North Korea fired what appeared to be a long-range ballistic missile, its second missile launch in less than 12 hours, according to South Korea's military, after Pyongyang condemnded moves by South Korea and the US to bolster their nuclear deterrence plans against North Korea. Korea Aerospace Industries' stock is now up 1.05%, Hyundai Rotem up 0.95%, and LIG Nex1 up over 5%. From 2018 to 2022, South Korea was the ninth largest weapons supplier globally, ahead of Israel, the Netherlands and Turkey.
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