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South Korean Shares End Week Lower

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South Korean shares closed lower for a second straight session on Friday, owing to renewed tensions in the Middle East.

The Korea Composite Stock Price Index, or Kospi, decreased by 37.61 points, or 0.6%, to close at 6,258.77. The Kosdaq fell by 2.86 points, or 0.4%, to close at 798.81.

In corporate news, GS Engineering & Construction (KRX:006360) has secured a construction order for the Sajik District 3 redevelopment project, according to a Friday filing with the Korea Exchange.

The contract amounts to 408.2 billion won and involves the construction of 995 apartment units.

Shares of the company fell over 3% at market close.

In other news, Naver (KRX:035420) posted a 43% year-over-year jump in attributable profit to 698.6 billion won from 488.8 billion won for the second quarter, according to a Friday filing.

Revenue rose 16% to 3.389 trillion won from 2.915 trillion won.

Shares of Naver fell over 7% at market close.

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