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Nervous Markets Await Next Move After North Korea Claims ICBM Test

  • South Korean assets drop, with won poised to extend losses
  • Escalation of tension boosts haven assets including yen
Bloomberg business news

U.S. Confirms North Korea Rocket Was ICBM

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Corrected

South Korean assets extended losses on Tuesday as the latest bout of saber-rattling by its northern neighbor unnerved investors.

North Korea’s announcement that it had successfully test-fired an inter-continental ballistic missile sent the South Korean won 0.3 percent lower to its weakest level against the dollar in more than three months, with further losses in store, according to Bank of Singapore Ltd. The benchmark Kospi stock index dropped 0.6 percent, while yields on South Korea’s 10-year bonds rose four basis points to 2.28 percent.