Intensifying tensions in the Middle East following U.S. and Israeli military strikes on Iran, which killed Iranian Supreme Leader Ayatollah Ali Khamenei, have not only raised concerns about potential impacts on the Korean economy but also lifted investor sentiment toward several key sectors. With expectations that the ongoing conflict in the oil-rich region could disrupt shipments through the Strait of Hormuz, investors in the Korean stock market bet on defense, refinery and shipping firms on Tuesday, the first trading day since the war started. On Tuesday morning, LIG Nex1 briefly hit the daily upper price limit at 661,000 won ($451), driven mainly by expectations for its M-SAM II mid-range surface-to-air missiles. The company has already supplied the system to Saudi Arabia and the United Arab Emirates, both now under retaliatory attack from Iran targeting Arab allies of the United States. Other major Korean defense companies, including Hanwha Systems, Hanwha Aerospace, Hyundai Rotem and Poongsan, also saw sharp gains. Hana Securities analyst Chae Un-sam said a potential shortage of mis