China Issues Order to Implement UN Sanctions on NKorea
…financial markets soar
$DIA, $SPY, $QQQ, $VXX
China’s Commerce Ministry issued a ban effective from Tuesday on several imports from NKorea, including coal, iron ore, lead concentrates and ore, lead and seafood, a move that is in line with UN sanctions announced this month.
Beijing issued the banning order Monday.
UN sanctions must be implemented 30 days after the resolution was approved in a vote on 6 August 2017.
The Chinese government said any cargoes already on their way to China would be cleared by customs as usual before the UN sanctions deadline.
NKorea said Tuesday that leader Kim Jong Un was briefed on his military’s plans to launch missiles into waters near Guam as part of an effort to create “enveloping fire” near the US military hub in the Pacific.
The comments are significant because they appeared to signal a path to defuse a deepening crisis with Washington over a weapons program that is seen as having the ability to be able to send a nuclear missile to the US Mainland.
Kim said NKorea will conduct the planned missile launches if the “Yankees persist in their extremely dangerous reckless actions on the Korean Peninsula and its vicinity” and that the United States should “think reasonably and judge property” to avoid shame.
Lobbing missiles toward Guam would be a deeply provocative act from the US perspective. US Defense Secretary Jim Mattis (USMC ret)said the United Sates would take out any such missile seen to be heading for American soil and declared any such North Korean attack could lead to War.
The latest Korea Central News Agency report said Kim ordered his military to be prepared to launch the missiles toward Guam at any time.
If the “planned fire of power demonstration” is carried out because of US recklessness, Kim said it will be “the most delightful historic moment when the Hwasong artillerymen will wring the windpipes of the Yankees and point daggers at their necks,” the news agency said.
NKorea is angry about new UN sanctions over its expanding nuclear weapons and missile program and annual military drills between Washington and Seoul beginning later this month that Pyongyang condemns as invasion rehearsals.
President Trump has declared the US military “Locked & Loaded” and said he was ready to unleash “Fire & Fury” if NKorea continued to threaten the United States.
Monday, SKorean President Moon called for a peaceful solution to the nuclear standoff, saying that “there must not be another war on the Korean Peninsula”
Moon said SKorea would work to safeguard peace on the Peninsula in cooperation with the United States and other countries. Moon said NKorea must stop issuing menacing statements and provocations.
World financial markets acted positively.
The CBOE Volatility Index (VIX) 13.20, -2.31 opened down 14.9% Monday, after spiking to multi-month highs at the end of last week.
Monday, the US major stock market indexes finished at: DJIA +135.39 at 21993.71, NAS Comp +83.68 at 6340.21, S&P 500 +24.52 at 2465.80
Volume: Trade on the NYSE was moderate to light with 744-M/shares exchanging hands.
- NAS Comp +17.8% YTD
- DJIA +11.3% YTD
- S&P 500 +10.1% YTD
- Russell 2000 +2.7% YTD
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