Defense stocks are gaining in early trading on the 24th. Military tensions are rising around the Strait of Hormuz as it remains unclear whether the United States and Iran will hold cease-fire talks.
As of 10:12 a.m. that day, Hanwha Aerospace shares on the main board were trading at 1,466,000 won, up 2.88% (41,000 won) from the previous session.
LIG Defense&Aerospace, Hyundai Rotem, Hanwha Systems, and Poongsan are also strong.
Overnight, U.S. President Donald Trump on the 23rd local time ordered the U.S. Navy to open fire and sink any vessel laying mines in the Strait of Hormuz. He also said the blockade of the strait would continue until Iran agrees to a cease-fire and denuclearization.
In this situation, whether cease-fire talks between the United States and Iran will proceed is also unclear. According to recent Israeli foreign media reports, Mohammad Bagher Ghalibaf, speaker of Iran's parliament who led the cease-fire talks with the United States, is said to have resigned from his position as head of the negotiating team.