Asian equities opened Monday’s session higher with Nikkei by 0.4% and Kospi by 0.49 percent; Wall Street still recovers

Asian equities

Asian markets started Monday’s session higher as Wall Street is still recouping from the previous week. Investors are currently concerned with yet another ballistic missile test from North Korea.

Japanese benchmark Nikkei 225 opened Monday’s trading by 0.42 percent. The Aussie S&P/ASX 200 rose as much as 0.22 percent on the day. Across the Korean Strait, Kospi index edged higher by 0.49 percent as it shrugs off the ballistic missile test launched by North Korea.

According to a Reuter’s report, the estranged state noted that the deployed missile includes an intermediate-range airborne missile. Reuters added that their state media said that leader Kim Jong Un had authorized the launching.

Flag carrier in Hong Kong Cathay Pacific is likely to cut as much as 600 jobs in the months to come. This is for a bid to take back its losses, according to a Sunday report from the South China Morning Post. The airline released its initial yearly loss, close to a decade in March this 2017.

Meanwhile in Japan, Westinghouse Electric, Toshiba’s nuclear arm in the U.S., pointed out that it would secure 172 union members as contract agreement had touched a deadlock. Shares of this Japanese conglomerate gained more than 1.2 percent.

On the stateside, equities from the Wall Street settled the day higher last Friday following their largest sell-off in 2017 last week. Dow Jones industrial average gained 0.69 percent to finish at 20,804.84.

Market analysts are keeping an eye on the aftermath of the first foreign trip of U.S. President Donald Trump as the first leg started in Saudi Arabia last weekend. A $350 billion worth of arms deal was signed by United States and Saudi Arabia on Saturday.

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