ibusinesslines.com
ibusinesslines.com October 23, 2017


Yen gains broadly on latest bout of Korean tensions

13 August 2017, 03:20 | Kelvin Horton

S&P 500 e-mini futures were down 0.2 percent, hinting at weakness on Wall Street later in the day.

Biotechnology, tobacco, and transportation stocks also saw considerable strength, while steel stocks extended a recent move to the downside. Titled "Reckless game over the Korean Peninsula runs risk of real war", the editorial suggested China will stay neutral if North Korea strikes first, but will intervene if the U.S.is the first mover.

NASDAQ measures a number of indices reflecting the reaction of USA's high tech markets and business environments on the country's political and economic developments which have an impact on high tech markets.

Friday caps a week dogged by escalating tension between the US and North Korea which culminated with President Donald Trump stating that his earlier threat to unleash "fire and fury" on North Korea "maybe wasn't tough enough".

U.K.'s FTSE 100, the German DAX and the French CAC 40 all dropped more than 2.3% this week.

US President Donald Trump's warning to North Korea has given gold momentum; investors are also awaiting US inflation data.

This week's increase in tension between North Korea and the USA over North Korea's nuclear missile programme is a timely warning for investors to remain diversified, affirms a leading analyst. Australia's S&P/ASX 200 edged down almost 0.1 per cent to 5,760.90, while South Korea's Kospi fell 0.5 per cent to 2,357.84.

INFLATION: The Labor Department said consumer prices edged up 0.1 percent in July following no gain in June.


Still, the S&P and the Dow were on track to post their biggest weekly loss in about five months and the Nasdaq on course to post its biggest weekly fall in about six weeks.

The world equity markets have lost 1000 billions of dollars of funding since the beginning of the verbal sparring between the United States and North Korea.

Materials, home to gold producers and other resource-based companies, was the only gainer among the index's 10 main sectors and was up 0.6 percent. TMX Group Ltd was up 3.5 percent to C$68.23, while Quebecor Inc added 2.9 percent to C$44.60.

Commodity-related stocks are among the worst performers against the backdrop of heightened political uncertainty after Trump further ratcheted up the rhetoric. Perrigo rose $1.58, or 2.1 percent, to $78.43.

In Asia, the Nikkei was flat, while Hong Kong's Hang Seng fell 1.8 per cent and the Shanghai Composite finished 1.6 per cent lower. The Japanese market was closed in observance of the Mountain Day holiday.

Shares Snap fell 1.94, or 14%, to 11.83 after the Snapchat parent reported earnings late Thursday that missed analyst forecasts. Disappointing company earnings also helped pull the market lower, with consumer-focused companies and technology stocks among the biggest decliners.

Benchmark 10-year notes were last up 12/32 in price to yield 2.201 percent, from 2.242 percent late on Wednesday. Australia's S&P/ASX 200 dropped 1.2 percent. The u.s. central bank, one of whose tasks is to contain the price rise, does not therefore appear to be obliged to accelerate the pace of the slow tightening of monetary that it has committed.



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