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Markets Not Afraid of NKorea Missile Tests

Markets Not Afraid of NKorea Missile Tests
(AP Photo)

By    |   Monday, 29 May 2017 10:07 PM

If North Korea's multiple missile launches are worrying anyone, it does not seem to be investors in Asian stocks, The Wall Street Journal reported.

Even though the Kim Jong Un regime carried out its ninth ballistic missile test early Monday morning — with the projectile landing 200 miles off the coast of Japan — Asian markets actually rose later in the day.

South Korea's KOSPI stock index hit records Monday morning, though numbers fell slightly by day's end. North Korea's two previous missile launches also saw the KOSPI rise.

The Japanese yen also rose Monday despite criticism of the test by the government.

"The market is really just seeing this as empty threats from North Korea," IG Group market analyst Jingyi Pan, told the Journal.

"I don't think North Korea will actually hit something unless the U.S. pressures the state too much," Phillips Futures investment analyst Tian Yong Woon said. "I think this game will continue."

Many believe markets will not suffer unless one of North Korea's rockets hits land, according to the Journal. Such a hit "could really trigger a big selloff," said Tareck Horchani, deputy head of sales trading in Asia-Pacific at Saxo.

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If North Korea's multiple missile launches are worrying anyone, it does not seem to be investors in Asian stocks, The Wall Street Journal reported.
missile, Asian, stocks, markets
193
2017-07-29
Monday, 29 May 2017 10:07 PM
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