Shares in Asian defense firms snapped a two-day winning streak amid mixed trading in the region, as investors continued to assess geopolitical risks following the US attack on Venezuela and renewed rhetoric on Greenland.
In Japan, shares of Kawasaki Heavy Industries fell by 1.1%. South Korea’s Korea Aerospace fell 1.62%, while Poongsan fell 4.98%. Hanwha Aerospace retreated 1.76%.
White House press secretary Caroline Leavitt said Tuesday that President Donald Trump and his team are considering “a number of options” to acquire Greenland — including “using the U.S. military.”
The statement further escalates the Trump administration’s already aggressive rhetoric on Greenland, which the president has long sought to make part of the United States.
Elsewhere, Australia’s benchmark ASX/S&P 200 rose 0.38% after domestic inflation data came in below expectations. The consumer price index rose 3.4% from a year earlier in November, less than Reuters’ expectations of 3.7% and below inflation of 3.8% in October.
Monthly inflation was also unchanged from October, suggesting that price pressures may be easing and the case for raising interest rates may be cooling.
Japan’s benchmark Nikkei 225 fell 0.45%, while the Topix lost 0.63%. South Korea’s Kospi jumped 1.89%, while the small-cap Kosdaq fell 0.12%.
Shares of South Korea’s Hyundai Motors rose more than 11%, continuing gains for a sixth straight day. The company announced on Tuesday that it plans to deploy humanoid robots in American factories starting in 2028, SEEbiz reports.
Hong Kong’s Hang Seng index fell 0.43%, while the mainland’s CSI 300 added 0.13%.
U.S. crude oil futures fell 1.3% to $56.39 a barrel after U.S. President Donald Trump said Venezuela would transfer between 30 and 50 million barrels of oil to the United States. The statements followed a weekend operation in which US forces captured former leader Nicolás Maduro.
