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Reports of a possible halt in US-North Korea talks send defense stocks soaring

2019-03-16 09:58:36       source:CNBC

March 15, 2019

Defense-related stocks listed in South Korea and Japan surged by more than 20 percent on Friday following reports that North Korea may suspend nuclear talks with the U.S.

At the same time, shares of South Korean firms with exposure to North Koreaplunged.

North Korean Vice Foreign Minister Choe Son Hui said at a news conference that her country has “no intention to yield” to demands made by the U.S. She added that North Korean leader Kim Jong Un could rethink a moratorium on missile launches and that he will make an official announcement soon on his position regarding talks with the U.S.

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