South Korea's benchmark KOSPI Index rose by 0.3%, closing at 2,569.71, breaking a three-day losing streak. Over the week, the index experienced a 3.0% decline. Gains in defense and oil stocks outweighed losses in shipping and airline sectors as traders assessed the risk of escalating conflicts in the Middle East. The risk-averse sentiment pushed the USD/KRW pair up by 0.8%, reaching 1,333.80.
Shipping company Pan Ocean saw its shares drop by 5.4%, while refinery firm S-Oil gained 3.5%. Meanwhile, Korea Zinc (ticker) surged 8.8% amidst intensifying competition for control over the world's largest zinc smelting operation.
The yield on South Korea's benchmark 10-year government bonds increased by 6.2 basis points, settling at 2.994%.
