Asian markets cautious as geopolitical concerns surge; Nikkei, Kospi down 0.1%

Asian bourses were pressured in early Wednesday trade as geopolitical concerns came to the fore a day after North Korea launched a long-range ballistic missile.

North Korea claimed on Wednesday the missile it had launched on Tuesday was an intercontinental ballistic missile capable of carrying a heavy nuclear warhead, Reuters said. The missile launched on Tuesday had landed in Japan’s exclusive economic zone (EEZ).

South Korea and the US have responded to the North’s missile launch by conducting an offensive ballistic missile drill, Reuters reported.

The Nikkei 225 edged down 0.11 percent by 8:10 a.m. HK/SIN.

South Korea’s benchmark Kospi index was lower by 0.07 percent after a mild sell-off late in the previous trading session. The won was steady, trading at 1,150 to the dollar at 8:08 a.m. HK/SIN.

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Posted in: Indian Market Tips