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South Korean defense stocks surge on prospects for post-Iran-war sales boosts
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- South Korean defense stocks climbed sharply on Tuesday as the end of the Iran war appeared to be in sight, because the companies may benefit from sales to the Middle East afterward.
- Hanwha Aerospace, Seoul's largest defense stock, was up as much as 11.8%.
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South Korean defense stocks climbed sharply on Tuesday as the end of the Iran war appeared to be in sight, because the companies may benefit from sales to the Middle East afterward.
Hanwha Aerospace, Seoul's largest defense stock, was up as much as 11.8%. Hyundai Rotem, maker of the K2 Black Panther main battle tank, gained as much as 12.67%, and LIG Defense & Aerospace spiked to nearly the 30% limit gain on the Kospi index. Firstec, which makes components for ground combat vehicles, also almost hit the 30% upward limit.
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