Asian defense stocks recorded gains for a second consecutive session on Tuesday, while broader regional markets experienced mixed trading. This occurred as investors evaluated geopolitical developments, specifically the U.S. action in Venezuela which resulted in the capture of former leader Nicolas Maduro.
Defense Sector Performance
Japanese defense manufacturers saw increases, with Kawasaki Heavy Industries rising by 3.53% and IHI adding 3.23%. In South Korea, shares of Korea Aerospace surged by up to 11%, Poongsan increased by over 6%, and Hanwha Aerospace climbed 0.59%.
Regional Market Overview
Japan's Nikkei 225 index advanced by 0.69%, and the Topix index rose by 1.3% to reach a new record high. South Korea's Kospi index remained flat, while the small-cap Kosdaq index declined by 0.43%.
Australia's ASX/S&P 200 index decreased by 0.42%.
Hong Kong's Hang Seng Index gained 1.6%, primarily driven by increases in the basic materials and real estate sectors. Notable performers on the index included China Hongqiao, a significant aluminum producer, which advanced 7.89%, and Zijin Mining Group, which rose 5.57%.
The mainland China CSI 300 index concluded the day with a 0.47% gain.