Global Markets Start Week in A Red, N. Korea Tests Missiles

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North Korea’s test with a long range missiles that fell into the Japan’s special economic zone pushed Global Markets to its low on Monday. Phenian tested launched at least four ballistic missiles in its third test this year.

Japan’s Nikkei 225 stock index fell 0.5 percent to finish at 19,379.14.

France’s CAC 40 slipped 0.4 percent to 4,976.50 in early trading.
Germany’s DAX dipped 0.6 percent to 11,954.56
Britain’s FTSE 100 lost 0.4 percent to 7,346.90.
U.S. shares were set to drift lower, with Dow futures down 0.3 percent and S&P 500 futures down 0.5 percent.

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Some Asian markets recorded minimal gain. The Kospi in South Korea was little changed, gaining 0.1 percent to 2,081.36. Hong Kong’s Hang Seng index added 0.2 percent to 23,596.28.The Shanghai Composite index advanced 0.5 percent to 3,233.87. Australia’s S&P ASX/200 rose 0.3 percent to 5,746.50. Shares in Taiwan rose while markets in Southeast Asia were mixed.

Apparently markets perceive North Korea as a growing threat to global investment that requires fast reaction of West and allied countries in the region.

One of the North Korea’s currently-unidentified projectiles could be an intercontinental ballistic missile, said a South Korean military official without providing further details. If true, the missile launch could prove a pivotal moment, Financial Times reported.

South Korea and the U.S. began the annual Foal Eagle Exercise – a large-scale military training designed to improve combat preparedness of U.S. and South Korean forces in the region. North Korea threatened to conduct more missile tests in response to Foal Eagle training exercises.

(UPI, AP, Kyodo)

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