BUZZ-South Korean defence stocks surge on bets of Europe spending boost
South Korean defence stocks surge on bets of spending boost in Europe after a clash between the presidents of the United States and Ukraine over U.S. aid
Hanwha Aerospace 012450.KS rises more than 11%, Hanwha Systems 272210.KS jumps 7%, LIG Nex1 079550.KS climbs 6%, and Hyundai Rotem 063450.KS adds 11%
U.S. President Donald Trump has paused all military aid to Ukraine following his clash with Ukrainian President Volodymyr Zelenskiy last week, according to media reports
Leaders from major European economies agree to boost defence spending after Trump-Zelenskiy meeting
"Hanwha Aerospace and Hyundai Rotem are among South Korean defence firms of meaningful exposure to business in Europe, with capability to provide cost-efficient weapons in a timely manner," says DS Investment Securities
The broader KOSPI market .KS11 up 0.5%, as of 0030 GMT
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