The World Markets are Not Afraid of Anything NKorea Does
Even though the Kim Jong Un regime carried out its ninth ballistic missile test early Monday morning, with the projectile landing 200 miles off the coast of Japan, Asian markets actually rose later in the day.
South Korea’s KOSPI stock index hit records highs Monday morning, though numbers fell slightly by day’s end. North Korea’s 2 previous missile launches also saw the KOSPI rise.
The Japanese Yen also rose Monday despite criticism of the test by the government.
“The market is really just seeing this as empty threats from North Korea,” IG Group market analyst Jingyi Pan said.
“I don’t think North Korea will actually hit something unless the U.S. pressures the state too much,” investment analyst Tian Yong Woon said. “I think this game will continue.”
Many believe markets will not suffer unless one of North Korea’s rockets hits land. Such a hit “may really trigger a selloff,” said the deputy head of sales trading in Asia-Pacific at Saxo Bank.
Volatility was very low due to the markets closed in US, UK and China Monday.
Have a terrific week.