FX.co ★ KOSPI Climbs on Defense and Shipbuilding Gains

The benchmark KOSPI index increased by 1.97%, reaching approximately 4,188 points on Monday, marking the fourth consecutive session of gains and achieving new record highs. This upward momentum was primarily fueled by robust performances in the defense and shipbuilding sectors. Hanwha Aerospace saw its shares rise by 3.68% after announcing a third-quarter net income of KRW 712.2 billion, a remarkable increase of 123.8% compared to the previous year. The company's revenue also significantly surged by 146.5% to KRW 6.48 trillion, surpassing market forecasts. Similarly, Samsung Heavy Industries experienced a 0.68% rise in its stock price following the disclosure of its third-quarter operating profit of KRW 238.1 billion, reflecting a substantial 99% increase from the prior year. Investors maintained a keen focus on the forthcoming earnings reports from major defense and shipbuilding companies like Hyundai Rotem, which rose by 1.52%, HD Hyundai Heavy Industries, up by 5.33%, and HD Korea Shipbuilding, which increased by 3.27%.