Markets are lower early in the trading Asian trading session.
Japan’s Nikkei is down 1.8 per cent.
Korea’s Kospi is down 0.9 per cent.
Australia’s S&P/ASX is down by 0.6 per cent.
Considering North Korea’s threat to use nuclear weapons, you would think that markets would be exhibiting much more volatility.
But the relatively sanguine mood just goes to show how serious the markets are taking North Korea and its leader Kim Jong-un.
SBS/CNBC reporter Chery Kang, who is based in Seoul, attributed today’s early sell-off to a combination of disappointing U.S. economic data, uncertainty regarding the Bank of Japan’s interest rate meeting, and the threats out of North Korea.
Earlier, Stifel Nicolaus’ Dave Lutz argued that the sell-off in the U.S. markets wasn’t just about the North Korea. He said that if it was, we would see South Korea’s stock markets tank and credit default swaps surge, which didn’t happen.