North Korea’s nuclear test rattles Asian markets, driving gold, yen higher

Safe haven demand drove up gold and the yen while equities in Asia were pressured by elevated tensions on the Korean Peninsula early on Monday after North Korea said it tested a hydrogen bomb over the weekend.

Japan’s Nikkei 225 declined 0.44 percent in early trade.

Across the Korean Strait, the Kospi fell 0.88 percent. Blue chips across sectors sold off: Samsung Electronics tumbled 1.25 percent and Hyundai Motor was down 1.4 percent.

South Korean markets have retraced losses fairly quickly in the past following North Korean saber-rattling, but the benchmark index has taken slightly longer to recover after the latest provocations.

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Posted in: Indian Market Tips