North Korea’s threats are driving down markets across Asia



Kim Jong
Un.

KNS/AFP/Getty
Images


Stocks across Asia-Pacific markets are lower today amid rising
geo-political tensions in the region.

It follows a sell-off in overnight markets, as global stocks got
the jitters from rising levels of animosity between the US and
North Korea.

Overnight there was more tough rhetoric from US President Donald
Trump, who told reporters that his “fire
and
fury”
 comment “maybe
wasn’t tough enough”.

  • Australian stocks led regional markets lower this
    morning:
     The ASX dipped by 1.5% as
    major banks led the falls. The ASX200 has since rallied back
    slightly, but is still down more than 1% on the day. The Aussie
    dollar is also getting sold off in Asian trade after holding up
    relatively well overnight. A short time ago, it was down 0.37%
    against the US dollar at 0.7846 and had lost ground against
    each of the major currencies.
  • South Korean stocks opened 1.2%
    down:
     And declines have continued in
    midday trade, with the index falling by as much as 1.74%. That
    takes losses for the KOSPI index to around 3% this week, with
    South Korean stocks now well off the record highs they reached
    in late July. Not surprisingly, the Korean won is also lower,
    down a further 0.26% against the US dollar after losing 1.3%
    over the previous two days.
  • Turning to mainland
    China:
     China’s benchmark Shanghai
    composite index opened 0.6% lower, but has faced more selling
    and is now down by 1.6%. But the ChiNext index — which tracks
    small-cap Chinese stocks and is prone to bouts of volatility —
    was actually 0.26% higher in midday trade.
  • Hong Kong stocks dipped sharply at the
    open:
     Falls in China have been
    almost doubled by Hong Kong’s Hang Seng index, which were down
    by 1.2% shortly after the index opened at 11:30am AEST. Huge
    internet…

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