Asian stocks slump on profit-taking after US-NKorea tensions

Asian stocks slump on profit-taking after US-NKorea tensions

North Korea said it was considering plans to fire missiles at Guam, a US -held Pacific island, after President Donald Trump on Tuesday warned the nuclear-armed nation that it would face "fire and fury" if it threatened the United States.

In a statement delivered at his Bedminster, N.J., golf club on Tuesday, Trump said, "North Korea best not make any more threats to the U.S. They will be met with fire and fury like the world has never seen". The S&P hasn't moved more than 0.5 percent in one day since July and has fallen more than 1 percent only twice this year.

Globally, France's CAC 40 share index fell 1.5 percent by the afternoon; Germany's DAX fell 1.3 percent.

In the United Kingdom, the FTSE 100 closed down 0.59%, or 44.67 points, at 7498, broadly in line with negative trends in European markets.

US stock indexes were set to open little changed on Friday, with the S&P 500 on track to post its biggest weekly loss in nine months, as investors remained cautious on heightened tensions between the United States and North Korea.

The escalation of the rhetoric between the USA and North Korea is keeping market participants on their toes and with no fresh economic reports the price action is dictated by the headlines.

Trump took specific aim at North Korean leader Kim Jong Un on Thursday, saying, he had "disrespected our country greatly", and would not be "getting away with it". Regeneron Pharmaceuticals led the pack, adding $6.99, or 1.5 percent, to $476.67.

"We saw a tentative recovery in risk appetite yesterday from the sell-off inspired by North Korea but I think justifiably that move is fading a little bit today", said Saxo Bank's head of FX strategy John Hardy. Stocks may remain pressured this afternoon, as market players remain hesitant to carry riskier assets ahead of the United States inflation data, scheduled for later today.

The VIX, a measure of how much volatility investors expect in stocks, jumped 10.4 percent.

In Asia, markets were mostly lower after disappointing Chinese trade data.

The Dow Jones Industrial Average was down 50 points, or 0.62 percent, at the start of Wednesday; the Nasdaq Composite was down 44 points and the S&P 500 was down 8.

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Its sweeping claims overlap with those of ASEAN members Vietnam, the Philippines, Malaysia and Brunei, as well as Taiwan. The Pentagon declined to provide any details but said that all operations are conducted in accordance with worldwide law.

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The Force have the support of billionaire mining magnate Andrew Forrest who just last week launched a stinging attack on the ARU . And Pulver made matters worse when he told a news conference he would step down as soon as a replacement could be found.

Politics lifted USA defense stocks. The FTSE 100 index of leading British shares was 0.7 percent lower at 7,489.

It has weakened 1.5 percent since hitting a 2-1/2 year high of 1.1910 on August 2.

Elsewhere, the New Zealand dollar slid 0.9 percent to $0.7273.

European stock markets slid again on Thursday as investors sought safe havens amid tensions between the United States and North Korea, despite an easing in rhetoric.

"U.S. markets had previously been becalmed amidst the Goldilocks scenario of strong profit growth, low interest rates and full valuations".

Twenty-First Century Fox Inc was down 2.65 percent following quarterly revenue that fell short of expectations. Netflix was down 2.35 percent.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.25 percent from 2.26 percent late Tuesday.

Meanwhile, the dollar index, which tracks the dollar against a basket of six major currencies, slipped on the back of weaker-than-expected US producer prices.

The Labor Department said its Consumer Price Index edged up 0.1 percent last month, which was below the 0.2 percent rise expected by economists polled by Reuters.

Overnight, Asian and USA equity markets extended their sell-off as the war of words between the Washington and Pyongyang intensified.

Australian shares were down 1.3 per cent, set for a weekly loss of 0.6 per cent and Chinese and Hong Kong bluechips lost 1.6 per cent and 1.9 per cent respectively.

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