Kospi rose 0.2%, but Nikkei drops 0.8% after North Korea’s missile threat to U.S.

Nikkei drops

Markets all over Asia traded diverse on Wednesday’s open and the tension surrounding the Korean Peninsula continues to elevate due to North Korea’s nuclear attack warning on the United States.

South Korean benchmark Kospi was 0.22 percent higher. Australian ASX 200 was slightly up by 0.07 percent. However in Japan, Nikkei 225 edged down by 0.81 percent in morning trade.

United States is currently watching every move of the hermit kingdom regarding its nuclear missile threats. According to North Korean state media, their nuclear missiles were targeted on the U.S. invasionary forces. The incident occurred as an aircraft carrier group from the U.S. heads to the western Pacific following several missile attacks led by North Korea.

In reaction to the threats, U.S. President Donald Trump tweeted “North Korea is looking for trouble” and “if China decides to help, that would be great”. He added that the U.S. will solve the issue even without China’s support.

Meanwhile in the Down Under, BHP Billiton shares had risen by 0.63 percent following Elliot Advisors, a hedge fund activist, advice to the miners to consider re-establishing. The idea would involve getting rid of the dual-listed structure of BHP. This Australian mining is currently listed in London and Sydney.

Back in Asia, shares of Toshiba was 2.6 percent lower in previous trade. They entered their results last Tuesday without signing off from its auditors, following two-time delay of the previous month’s release. This distressed Japanese conglomerate also indicated that the incoming survival of the firm was in trouble.

In economic news, China is forecasted to announce its PPI numbers and March CPI at 9:30 am (HK time) while Singapore releases retail sales data for February. In addition to fiscal data’s, Japan will report its machinery orders for February at 7:50 am (HK time).


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