Asian equities decline after NKorea missile tests

Asian equities decline after NKorea missile tests

On Tuesday, Asian equities went down because North Korea reversed a recent lull in tensions with a fresh missile launch, which reached Japanese territory with a UN Security Council gathering scheduled later in the day as well as reports America was delivering more military hardware to the region.

North Korea dared to launch another ballistic missile, which overleapt Japan on Tuesday. Evidently, the ballistic missile was making its way to the Tohoku region before dipping in the sea, as Japan's NHK informed. By the way, the last time a missile from the hermit state passed over Japan was 2009.

In Japan Nikkei 25 went down 0.74%, the South Korea Kospi index declined 1.55%, while in Australia, the S&P/AX 200 lost 0.98%.

The Hang Seng index decreased 0.37% in Hong Kong and the Shanghai Composite soared 0.13%.

Overnight, American equities closed mixed after a dip in energy and financials put pressure on the broader market because market participants mulled over the impact of Tropical Storm Harvey. At the same time Fed Chair Janet Yellen’s dismal remarks on Friday confounded expectations of rate lift later in 2017.

 

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