In Asia, South Korean names led regional gains. Shares of Hanwha Aerospace, the nation’s biggest defence contractor, surged as much as 5.9% to an all-time high.
Defence stocks rose across Europe and Asia after US President Donald Trump said NATO nations should shoot down Russian aircraft that violated their airspace and struck a more sympathetic tone on Ukraine’s chances of winning the war.
A Goldman Sachs Group basket of European defence firms rose as much as 2.8%, with industry heavyweight Rheinmetall gaining 1.4% and the UK’s BAE Systems rising 1.6%. Sweden’s Saab climbed as much as 5.8% to a record high.
