Korean Shipbuilding, Defense Stocks Plunge to Year-Low on July 14, Down 43-49%

According to News1, South Korean stocks in shipbuilding, defense, and nuclear energy sectors hit their yearly lows on July 14. Hanwha Ocean fell to 76,800 won, Doosan Enerbility to 70,900 won, and Hanwha Aerospace to 872,000 won, marking the lowest closing prices this year.

The stocks recovered partially on July 15 as the Kospi rebounded to 7,200, but remain down 43-49% from their 52-week highs. South Korean brokerages have downwardly revised price targets but maintain positive outlooks, citing strong shipbuilding orders and expected defense contracts in the second half of the year.