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US and Asian equities slump after North Korean missile launch
On Friday, American stock futures along with Asian equities sank after North Korea dared to launch another missile over Japan into the Pacific Ocean on Friday, thus demonstrating the isolated regime’s defiance in the face of rallying sanctions.
American stock futures ESc1 inched down 0.2%. At the same time MSCI's Asia-Pacific share index excluding Japan tumbled 0.4%, although it grew 0.4% on the week.
Japan's Nikkei N225 ascended 0.1%.
As Japan reported, the ballistic missile launched by North Koreans fell into sea approximately 2,000 km east of Hokkaido.
The launch took place after the U.N. Security Council officially approved fresh sanctions against North Korea for its September 3 nuclear test, although financial markets are getting accustomed to North Korea's sabre-rattling.
Before North Korea's missile test, American bond yields had ascended and Wall Street shares showed mixed performance after American consumer inflation data spurred expectations that the Fed will lift interest rates in December.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.