Economy

Asian stocks follow Wall St. lower on North Korea concerns

Asian stocks follow Wall St. lower on North Korea concerns

Overnight on Wall Street, the escalating war of words between the United States and North Korea battered financial markets. Pyongyang responded by announcing preparations for a plan to launch missiles toward waters near the American territory of Guam. "In terms of defense, we are joined at the hip".

In the U.S., Trump continued his tough talk on Thursday, suggesting that his earlier threat to unleash "fire and fury" on North Korea was too mild.

The saber rattling has shaken global markets, triggering a sell-off in Asia as investors sought safe havens.

At midday, Hong Kong's Hang Seng dropped 1.9 percent and the Shanghai Composite fell 1.6 percent.

AI can be more unsafe than North Korea, believes Elon Musk
While Musk's comments seem somewhat bombastic, they do shed light on the growing influence of artificial intelligence on humanity. President Donald Trump on Saturday, urging both sides to avoid words or actions that could worsen the situation.

Closer to home, Hong Kong will release Q2 numbers for gross domestic product later today; in the first quarter, GDP was up 0.7 percent on quarter and 4.3 percent on year.

In Hong Kong, shares of Chinese social media giant Tencent fell the most, losing as much as 5% following a recent rally in the shares.

The Hang Seng Index shed 1.3 per cent, or 351 points, to 27,092.4 as trading got under way, while the Hang Seng China Enterprises Index also declined 1.3 per cent, to 10,647.7.

Losses were broad-based, with consumer cyclicals and technology sectors racking up the steepest declines.

Rich Hill takes pitch to throat, taken to hospital as precaution
He did not allow a run in seven-inning starts against San Francisco and NY , allowing the Mets only one hit. Rich Hill started and went six innings for the Dodgers, leaving with a 3-2 lead and one very sore neck.

The escalating war of words between the USA and North Korea has rattled previously bullish investors, spurring a broad-based exodus from Asian stocks that had been riding high on a global flood of liquidity.

Kim said a market correction was due after significant gains this year, and that tensions over North Korea came at a critical moment.

The company's shares were hit by news that China's Internet watchdog was investigating Tencent's WeChat (微信), Weibo Corp (微博) and Baidu Inc's (百度) forum site Tieba (貼吧) over suspected violations of the country's strict cybersecurity laws.

Equities in Asia mirrored the USA slump, with the Nikkei 225 in Tokyo losing 0.05 per cent to 19,729.7, and the Kospi in South Korea dropping 1.3 per cent, or 30 points, to 2,329.9.

How to Watch Manchester United vs
"But I will behave on the touchline, even if goals are offside", he said. 'In many ways, it is my team, ' he said. Portuguese manager will have a mixture of youth and experience in his squad. "The top players are dependable".

Australia's S&P/ASX 200 Index lost 0.1 percent.


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