Expectations of a de-escalation in military conflicts in the Middle East have led to a rise in reconstruction-related stocks on the domestic market.
According to the Korea Exchange, as of 1:24 PM on November 10, Hyundai Engineering was trading at 81,800 won, up 6,600 won (8.78%) from the previous trading day.
DL E&C rose by 4,800 won (9.49%) to 55,400 won, while Daewoo Engineering increased by 720 won (6.98%) to 11,040 won. Jeonjin Construction Robot also saw a rise of 2,400 won (6.14%), reaching 41,500 won. The stock opened at 40,650 won and peaked at 42,200 won during the trading session.
Analysts suggest that the perception of a reduced likelihood of further military escalation between the U.S. and Iran has boosted investor sentiment. There is particular optimism that infrastructure recovery and reconstruction projects in the Middle East could gain momentum following a de-escalation.
On the previous day, President Donald Trump met with Qatari Prime Minister Mohammed bin Abdulrahman Al Thani at the White House. In a post on social media platform Truth Social, he stated, "We are seeing positive momentum toward ending this conflict."
He added, "The U.S. is locked and loaded and ready to act if there are any changes in the situation in the Middle East," but noted that the likelihood of such action appears very low at this time.
Trump emphasized that "Israel and the entire Middle East are protected from the dangers and threats posed by Iran."
In a telephone interview with Reuters, Trump reiterated, "We are ready to act whenever we want," but indicated that Qatar and Saudi Arabia would likely prefer a peaceful resolution, suggesting there are no immediate plans to resume military attacks.
Expectations of reduced geopolitical tensions have also impacted international oil prices. West Texas Intermediate (WTI) crude futures fell by 4.38% to close at $86.85 per barrel. Brent crude futures dropped by 5.85% to $92.57 per barrel.
* This article has been translated by AI.
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