Defense & Geopolitical Fragmentation▲
Military Sector Bucks Market Trend, Great Wall Military Industry Hits Two Consecutive Limit-Ups
In early trading on July 24, the three major A-share indices were mixed, while the military sector bucked the trend and strengthened. Great Wall Military Industry hit its second consecutive daily limit-up, with North Long Dragon, Construction Industry, and Chengdian Guangxin also rising. On the news front, overnight US military giants Lockheed Martin surged over 10% and Raytheon Technologies rose over 7%, while the US military completed its 13th consecutive night of strike operations against Iran. Institutional research reports point out that military equipment benefits from multiple overlapping catalysts, including the implementation of the top-level defense science and innovation plan under the 15th Five-Year Plan and the mass equipping of the entire military with new gear, with ample order backlogs at industry chain enterprises.