Asian markets were relatively stable as markets received news of North Korean missile tests. North Korea filed a ballistic missile which after its six-minute flight landed in the Sea of Japan. North Korea continues to face harsh criticism from United States, Japan and its traditional ally China ever since she started testing ballistic missiles as this is ninth such test in the current year which has been carried out by the country threatening the region’s peace.
With President Trump has vowed to put the North Korea’s offensive in checks, Japanese PM Abe, has also hinted at collaboration with the United States in order to keep the hermit country from extending its arsenal. Earlier, United Sates had employed a USS Karl Vision aircraft Carrier in the Korean Peninsula. With President Moon sworn in the Seoul offices, the situation is expected to get tense in the region as North Korea continues to show reluctance to the pressures from its neighbors and US.
Markets in Asia shrugged off the North Korean missile testing news, NIKKEI 250 closed effectively flat, down by 0.02 percent. South Korea’s KOSPI was also unmoved as it dropped by 0.1 percent after six sessions of straight gains.
S&P/ASX 200 declined after it started flat in the earlier session and closed after dropping by 0.77 percent. Hong Kong’s Hang Seng Index was higher by 0.24 percent.
Markets in mainland China were closed because of a public holiday.
United States markets were also closed due to observance of Memorial Day, whereas the UK markets too were closed owing to the Spring Day break.
With several large markets closed today, trading is expected to be subdued.