Korea’s LIG Nex1 Soars on Reports of Defense Orders From Gulf

Shares of South Korean defense contractor LIG Nex1 Co. jumped on reports that Gulf nations may expand orders for its missile interceptors to fend off Iranian strikes.

The stock closed 23% higher in Seoul after local newspaper Ilyo Shinmun reported that the United Arab Emirates has asked LIG to supply additional interceptors. Another outlet said the three Gulf countries have requested early delivery of planned shipments, while Qatar offered to place a new order for the missile systems.