Construction stocks are collectively weaker in early trading on the 8th after reports that the United States and Iran exchanged fire in the Strait of Hormuz.
As of 9:32 a.m. that day, in the Korea Exchange, Hyundai Engineering & Construction is trading at 161,800 won, down 5,600 won (3.35%) from the previous close. DL E&C is also trading at 94,200 won, down 6,100 won (6.08%) from the previous day. GS Engineering & Construction and Samsung E&A are also trading at prices down 6.86% and 7.07%, respectively.
It is interpreted that investor sentiment toward construction-related stocks, which had emerged as beneficiaries related to postwar reconstruction, has cooled after a clash occurred just one day after reports that the United States and Iran were close to drawing up a cease-fire proposal.
United States Central Command said on X (formerly Twitter) on the 7th (local time) that "as a U.S. Navy guided-missile destroyer transited the Strait of Hormuz toward the Gulf of Oman that day, U.S. forces thwarted an unprovoked attack by Iran and responded with self-defense strikes."
Central Command said that as three U.S. destroyers—the USS Truxtun, the Rafael Peralta, and the Mason—were transiting the Strait of Hormuz that day, Iranian forces launched multiple missiles and drones, prompting the deployment of small craft.