19 November 2025, China, Shanghai: Boats sail past downtown Shanghai on the Huangpu River. The tallest building on the skyline is the Shanghai Tower (rear).
Bernd von Jutrczenka | Picture Alliance | Getty Images
Asian defense stocks rallied for a second straight session Tuesday, even as the region traded mixed, with investors assessing geopolitical risks after the U.S. attack on Venezuela and capture of ousted leader Nicolas Maduro.
Japanese defense firm Kawasaki Heavy Industries rose 3.53%, while IHI added 3.23%. Shares of South Korea’s Korea Aerospace jumped as much as 11%, while Poongsan jumped more than 6%. Hanwha Aerospace climbed 0.59%.
Japan’s benchmark Nikkei 225 index rose 0.69%, while the Topix advanced 1.3% to a record high. South Korea’s Kospi was flat, and the small-cap Kosdaq fell 0.43%.
Australia’s ASX/S&P 200 slid 0.42%.
Hong Kong’s Hang Seng Index added 1.6%, led by gains in the basic materials and real estate sectors. Among the top gainers on the index were China Hongqiao, one of the world’s largest aluminum producers, which advanced 7.89%, and Zijin Mining Group, which rose 5.57%.
The mainland CSI 300 added 0.47%.
Singapore’s benchmark STI rose as much as 0.7% to a fresh record high. Singapore banks capped 2025 with another record year, as earnings came in stronger than expected and helped financial stocks rise more than 20% despite bouts of market volatility, said OCBC analysts on Tuesday. Looking ahead to 2026, bank profits are expected to hold steady even as lending margins ease, supported by strong wealth inflows and healthy returns on equity.
However, the bank cautioned that risks remain. Singapore’s market is dominated by mature, value-heavy companies, which limits its exposure to the faster growth typically seen in technology stocks. A regional slowdown—particularly in China—would weigh on external demand, while a spike in oil prices, given the still-fluid situation in Venezuela, could push up operating costs
U.S. equity futures were flat in early Asian hours.
Overnight in the U.S., stocks rose even after the U.S.′ attack on Venezuela, as crude oil prices advanced and investors bet the action would not lead to broader geopolitical conflict.
The Dow Jones Industrial Average gained 594.79 points, or 1.23%, to close at 48,977.18. The 30-stock index also hit a new all-time high in the session. The S&P 500 advanced 0.64% and ended at 6,902.05. The Nasdaq Composite added 0.69%, settling at 23,395.82.
— CNBC’s Liz Napolitano, Fred Imbert and Sean Conlon contributed to this report.
