Katie Lance
0
All posts from Katie Lance
Katie Lance in Economics & Politics,

Korean stocks hiccup after missile test

Reuters

A man watches a TV news report on North Korea's ballistic missile test at a railway station in Seoul on Tuesday.

Stocks in most Asian markets fell Tuesday, with risk appetite dented after North Korea launched another ballistic missile. South Korean stocks ended lower after North Korea said it successfully test-launched an intercontinental ballistic missile, claiming a major advance in its attempt to threaten the U.S. with a nuclear-tipped weapon. The Kospi SEU, -0.58% fought to stay in positive territory but eventually turned lower, closing down 0.6%. The risk-off mode helped push the yen higher USDJPY, -0.16%  , which in turn pressured Japanese stocks. The Nikkei NIK, -0.12%   flipped down and closed lower by 0.1%. But Australia was a standout, as equities rebounded on the back of buoyant financial, materials and energy stocks. The S&P/ASX 200 XJO, +1.75%   gained 1.8% after closing Monday at its lowest level in nearly two weeks. But investors continue to be cautious for now on what has been a 2017 market darling: Technology.

via