Defense stocks that surged the previous day after U.S. and Israeli airstrikes on Iran showed increased volatility in early trading on the 4th. Some shares continued to rise, while others were plunging.
As of 9:41 a.m., LIG Nex1 was trading at 743,000 won, up 12.41% (82,000 won) from the previous session. Hanwha Systems shares were also up in the 7% range.
By contrast, Hanwha Aerospace was showing a decline in the 5% range. Hanwha Aerospace hit an all-time high of 1,655,000 won in early trading but turned lower. Hyundai Rotem was also showing a decline in the 7% range.
In the case of LIG Nex1, the rally appears to be continuing after reports that the domestically made Cheongung-II air defense system deployed in the United Arab Emirates (UAE) intercepted missiles recently launched by Iran. LIG Nex1 is responsible for producing the Cheongung-II.
By contrast, the defense stocks that are falling appear to be plunging as profit-taking emerged after the previous day's strength.