The market capitalisation of defence stocks increased on the Korea Composite Stock Price Index (KOSPI) following U.S.-Israeli air strikes on Iran, as per data from the Korea Exchange. Samsung Electronics Co. maintained its top position with 1,063.8 trillion won, while SK hynix Inc. followed with 657.1 trillion won.
Top carmaker Hyundai Motor Co. held the third spot but experienced a 26.6 percent decline in market value to 101.3 trillion won due to regional tensions disrupting supply chains and raising oil prices. Kia, Hyundai’s sister company, dropped to ninth place with a 24.2 percent decrease in market capitalisation.
Despite the overall decline, defence company Hanwha Aerospace saw a notable 11.7 percent increase in market capitalisation to 68.8 trillion won, moving up three places to seventh. LIG Nex1 Co. and Hanwha Systems Co. also witnessed market value surges of 44.4 percent and 9.2 percent, respectively.
South Korean stocks closed slightly lower amidst uncertainties surrounding the U.S.-Iran conflict and chipmaking industry concerns. The benchmark KOSPI fell by 0.4 percent to 5,438.87, with trade volume at 889.8 million shares worth 23 trillion won.
