North Korea's leader has delayed a decision on firing missiles towards Guam while he watches US actions a little longer, the North's state media said on Tuesday, as South Korea's President said Seoul would seek to prevent war by all means.

In his first public appearance in about two weeks, Kim Jong-un inspected the command of the North's army on Monday, examining a plan to land four missiles near the US Pacific territory of Guam, the official KCNA said in a report.

“He said that if the Yankees persist in their extremely dangerous reckless actions on the Korean peninsula and in its vicinity, testing the self-restraint of the DPRK [Democratic People's Republic of Korea], the latter will make an important decision as it already declared,” the report said.

Pyongyang's plans to fire missiles near Guam prompted a surge in tensions in the region last week, with President Donald Trump saying the US military was “locked and loaded” if North Korea acted unwisely.

South Korean President Moon Jae-in said on Tuesday there would be no military action without Seoul's consent and his government would prevent war by all means.

“Military action on the Korean peninsula can only be decided by South Korea and no one else can decide to take military action without the consent of South Korea,” Mr Moon said in a speech to commemorate the anniversary of the nation's liberation from Japanese military rule in 1945. “The government, putting everything on the line, will block war by all means.”

The Liberation Day holiday, a rare one celebrated by both North and South, will be followed next week by joint US-South Korean military drills sure to anger Pyongyang.

China, North Korea's main ally and trading partner, has repeatedly urged Pyongyang to halt its weapons programme and South Korea and the United States to stop military drills to lower tensions.The state-run Global Times said on Tuesday that Seoul should play a buffer between the United States and North Korea to prevent a head-on confrontation.

“The drill will definitely provoke Pyongyang more, and Pyongyang is expected to make a more radical response,” the paper said in an editorial. “If South Korea really wants no war on the Korean Peninsula, it should try to stop this military exercise.”

Asian shares rose for a second day on Tuesday and the dollar firmed after Kim's comments further eased tensions and prompted investors to move back into riskier assets.

Kim Dong-yub, a professor and a military expert at Kyungnam University's Institute of Far Eastern Studies in Seoul urged caution in assuming North Korea was bluffing with its missile threats. “There is no stepping back for North Korea. Those who don't know the North very well fall into this trap every time (thinking they are easing threats) but we've seen this before.”

US officials have in recent days played down the risk of an imminent conflict while stressing their preparedness to respond militarily to any attack from North Korea. Defence Secretary Jim Mattis said on Monday the US military would know the trajectory of a missile fired from North Korea within moments and would “take it out” if it looked like it would hit the US Pacific territory.

“The bottom line is, we will defend the country from an attack; for us (US military) that is war,” Mattis said.

Japanese Prime Minister Shinzo Abe praised a commitment by Trump that the United States would stand with its allies in the region to counter threats from North Korea.

In a telephone call on Tuesday, Abe also agree with Trump that their top priority regarding North Korea was to do what they could to halt missile launches by the regime.

In pictures: North Korea military drill Show all 8 1 /8 In pictures: North Korea military drill In pictures: North Korea military drill North Korea's leader Kim Jong Un watches a military drill marking the 85th anniversary of the establishment of the Korean People's Army (KPA) KCNA/Handout via REUTERS In pictures: North Korea military drill A military drill marking the 85th anniversary of the establishment of the Korean People's Army (KPA) is seen in this handout photo by North Korea's Korean Central News Agency (KCNA) KCNA/Handout via REUTERS In pictures: North Korea military drill A military drill marking the 85th anniversary of the establishment of the Korean People's Army (KPA) is seen in this handout photo by North Korea's Korean Central News Agency (KCNA) KCNA/Handout via REUTERS In pictures: North Korea military drill A military drill marking the 85th anniversary of the establishment of the Korean People's Army (KPA) KCNA/Handout via REUTERS In pictures: North Korea military drill A military drill marking the 85th anniversary of the establishment of the Korean People's Army (KPA) KCNA/Handout via REUTERS In pictures: North Korea military drill This image made from video of still images broadcast in a news bulletin by North Korea's KRT, shows what was said to be a 'Combined Fire Demonstration' held to celebrate the 85th anniversary of the North Korean army, in Wonsan, North Korea. KRT via AP Video In pictures: North Korea military drill This image made from video of still images broadcast in a news bulletin by North Korea's KRT, shows what was said to be a 'Combined Fire Demonstration' held to celebrate the 85th anniversary of the North Korean army, in Wonsan, North Korea. KRT via AP Video In pictures: North Korea military drill This image made from video of still images broadcast in a news bulletin by North Korea's KRT, shows what was said to be a 'Combined Fire Demonstration' held to celebrate the 85th anniversary of the North Korean army, in Wonsan, North Korea. KRT via AP Video

Japan, which would be under the flight path of any missile fired towards Guam, will be seeking further reassurance from Washington in meetings between Japan's defence chief and foreign minister and their US counterparts on Thursday. “The strategic environment is becoming harsher and we need to discuss how we will respond to that,” a Japanese foreign ministry official said in a briefing in Tokyo. “We will look for the US to reaffirm it defence commitment, including the nuclear deterrent.”