Asian markets mixed as N Korea geopolitical tensions rise

13 August, 2017, 01:10 | Author: Gladys Mathis
  • President Donald Trump speaks in the Roosevelt Room of the White House in Washington Wednesday Aug. 2 2017

Trump issued a new warning to Pyongyang yesterday, saying in a tweet: "Military solutions are now fully in place, locked and loaded, should North Korea act unwisely".

The major averages ended the session just off their worst levels of the day.

Stocks are lower at midday as investors weighed the growing tensions between the USA and North Korea.

Tensions spiked yet further when North Korean state media later said Pyongyang was considering strikes near USA military installations in Guam.

The tensions, since Trump made his "fire and fury" comments on Tuesday, have wiped out almost $1 trillion from the global equity markets.

"I think Americans should sleep well at night, have no concerns about this particular rhetoric of the last few days", Tillerson said. Producer prices for July out on Thursday, Aug. 10, unexpectedly declined. Economists had expected another 0.1% uptick. Core inflation that excludes volatile food and energy items grew at a pace of 0.1% m/m, the same as in June but below the forecasted 0.2%.

The Nasdaq, Wall Street's home to many high profile tech companies, finished the day down more than 2%. The index bounced off its lowest closing level in six months.

Information technology fell 1.24 percent, hurt by a 16.6 percent plunge to C$66.50 in Kinaxis Inc stock. It is poised to end the week down 1.7 percent.

Crude oil futures are slipping USD0.10 to USD48.49 a barrel after tumbling USD0.97 to USD48.59 a barrel on Thursday.

In currencies, the yen strengthened 0.64 percent versus the greenback at 109.37 per dollar. Against the euro, the dollar is valued at USD1.826 compared to yesterday's USD1.1772.

The sabre rattling sent tremors throughout stock markets globally as investors responded to rising geopolitical tensions by selling off stocks and moving to traditional safe havens such as gold and USA government bonds. Japan was closed on a public holiday.

A former US Republican Senator has called on lawmakers to support calls President Donald Trump's removal from office, calling him "sick of mind".

The president said "things will happen to them they never thought possible" should Pyongyang attack the United States or its allies.

Gold prices were benefiting as traders favoured safe haven assets, hitting a two-month high of USD1,275.37. The Shanghai Composite slipped 0.4 percent to 3,261.75. Chinese blue chips closed flat but Hong Kong's Hang Seng fell 0.4 percent.

Australian shares fell to near three-week lows in a broad-based selloff.

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Manmohan Singh described Mr Ansari as friend, philosopher and guide and said his statesmanship guided the country for a long time. He served as Rajya Sabha Chairman for 10 years from 2007 to 2017.


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Make sure the worst score you make is a bogey and give yourself a couple of good chances on the easier holes". It was a big advantage to be in the fairway, and Olesen had only a 7-iron into 18th green.


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Lim has been suffering from high blood pressure and stomach pains, according to letters to his friends. The US leader was reacting to a report over North Korea considering a strike on US territory Guam.


Housebuilders Persimmon and Barratt Developments were among the biggest gainers of the day, up 1.58% and 1.02% respectively.

NAB lost 1% despite the bank reporting a 5% rise in its third-quarter cash profit.

"We are encouraged by our first-quarter performance, although we continue to believe that fiscal 2018 will be a transition year for our company, as we focus on laying the foundation for the future by executing on our strategic plan", he said.

Mining heavyweights BHP Billiton and Rio Tinto retreated 2-3%, while gold miners Evolution and Newcrest rose about 2% each.

Shares of staffing firm Adecco slumped 6.4 percent after its results.

Trump's threats have escalated since reports broke at the beginning of the week that North Korea had successfully produced a nuclear warhead that could be fitted inside its missiles.

Global markets have been on edge for the bulk of the week after Trump warned North Korea of severe retribution should the authoritarian state proceed with any more missile tests or threats.

The pan-European FTSEurofirst 300 index lost 1.01 per cent and MSCI's gauge ofstocks across the globe shed 0.26 per cent for a weekly loss of 1.6 per cent, the largest since the week to November 4.

Valeant Pharmaceuticals International, and the heavily weighted financials group lead broad declines.

The announcement Thursday warned that the North is preparing a plan to fire four of its Hwasong-12 missiles over Japan and into waters around the tiny island, which hosts 7,000 USA military personnel on two main bases and has a population of 160,000.

Markets are now awaiting US consumer price data for July, due later in the session.

The market indexes wavered between small gains and losses for much of the morning, then veered lower by afternoon.

The department store chain reported earnings of $110 million, or 65 cents a share.

It makes sense that investors would start to cut their positions in some of their winners and look for other investments that might be better bets for a rockier period for the markets and global economy.

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