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South Korea's Bond Risk Rises as North's Missiles Unnerve

Yet stocks in Seoul trade near record highs

The credit market is flashing potential warning signs for South Korea’s debt as the cost of insuring its bonds rose 13 basis points this year, making it the worst performer in Asia in 2017 so far, according to CMA data. Developments in the Korean peninsula have raised the risk of a military conflict that could have significant negative economic and financial impact across the Asia-Pacific, according to S&P Global Ratings. For now, global investors are brushing off North Korea’s missiles, helping push the Kospi index up 20 percent this year, while the won has climbed about 8 percent.

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