Korea Zinc Inc Reports 25% Drop in Q4 Net ProfitSouth Korean Bond Yields Rise on February 5, 2024

SEOUL—Korea Zinc Inc announced a 25 percent decline in its net profit for the fourth quarter, amounting to 192.7 billion won ($144.8 million), compared to the same period a year earlier. Despite the decrease in net profit, the company saw a significant 92.2 percent increase in its operating profit, reaching 197.2 billion won for the October-December period. Sales, however, fell by 18.5 percent to 2.41 trillion won.

According to Yonhap News Agency, the company's earnings exceeded market expectations, with the average net profit estimate by analysts standing at 146.2 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.

In the latest financial updates, South Korean bond yields experienced noticeable changes on February 5, 2024, reflecting shifts in the market. The one-year Treasury Bill (TB) rate increased to 3.371 percent from the previous session's 3.333 percent, marking a 3.8 basis points rise. Similarly, the two-year TB yield saw a significant uptick, reaching 3.383 percent from 3.309 percent, a change of 7.4 basis points.

According to Yonhap News Agency, The three-year TB yield also rose to 3.312 percent from 3.248 percent, with a 6.4 basis point increase, while the ten-year TB yield climbed to 3.374 percent from 3.287 percent, an 8.7 basis point rise. In the municipal sector, the two-year Municipal Standard Bond (MSB) rate increased to 3.372 percent from 3.304 percent, up by 6.8 basis points. The three-year Corporate Bond (CB) rated AA- escalated to 4.047 percent from 3.982 percent, showing a 6.5 basis point increase.

Contrastingly, the 91-day Certificate of Deposit (CD) rate slightly decreased to 3.670 percent from 3.680 percent, a reduction of 1.0 basis point, indicating a mixed movement in short-term liquidity conditions in the market.

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