Asia’s Defense Stocks Climb on Hopes of More European Arms Spending

Defense stocks in key Asian markets jumped on Tuesday, buoyed by expectations that European nations will boost security spending amid fears that the U.S. could reduce its military presence.

The rally in Asian defense stocks, following the advance by European peers overnight, came as European leaders met over the weekend and pledged to boost military spending to help deter further Russian aggression in Ukraine. The special London summit on Sunday followed the rift between Presidents Trump and Volodymyr Zelensky over the U.S. push to end the war in Ukraine.