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Japan’s Prime Minister Fumio Kishida walks past a Japan Ground Self-Defense Force (JGSDF) Type 19 155 mm wheeled self-propelled howitzer (back-L) and a Type 12 surface-to-ship missile (back-R) as he inspects equipment during a review at JGSDF Camp Asaka in Tokyo on Nov. 27, 2021. At his first troop review Saturday, Kishida renewed his pledge to consider “all options,” including acquiring enemy base strike capability.
Kiyoshi Ota | AFP | Getty Images
Japanese and South Korean defense stocks surged on Tuesday as both stock markets returned to their first day of trading following the weekend attack of Israel by Palestinian militants Hamas.
Hamas launched a surprise and unprecedented attack on Israel on Saturday, driving Israel to declare war and launch a barrage of retaliatory strikes on the Gaza Strip, which is ruled by the militant group.
In South Korea, defense heavyweights Hanhwa Aerospace — which builds artillery and air defense systems — gained 2.23%, while Korea Aerospace Industries rose 4.07%. KAI produces fighter jets and aviation platforms for the South Korean military.
Smaller South Korean defense players saw bigger gains. Shares of electronic warfare systems maker Victek spiked almost 30%. Firstec, which manufactures fire control systems and guided munitions jumped 20%.
In Japan, the largest gainer was Kawasaki Heavy Industries, which climbed almost 6.5%. The company manufactures aircraft and naval vessels for Japan’s Self Defense Forces.
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