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toptestmotor.com Agosto 17, 2017


Korean shares open lower amid tensions over N. Korea

11 Agosto 2017, 10:13 | Fidele Alvizo

An exhibit at the Korean War Memorial Museum in Seoul

An exhibit at the Korean War Memorial Museum in Seoul

The S&P/TSX composite index fell 143.08 points to 15,074.25, with almost all of its sectors moving lower. The Dow shed 0.2 percent.

Small-company stocks fell more than the rest of the market Wednesday.

Trump, whose threat this week to bring "fire and fury" was dismissed by North Korea, said Thursday that statement might not have been "tough enough".

Nuclear-armed North Korea mocked President Donald Trump as "bereft of reason" Thursday, raising the stakes in their stand-off with an unusually detailed plan to send a salvo of missiles towards the United States territory of Guam.

The risk-off tone triggered by the increase in tension between the U.S. and North Korea yesterday picked back up during today's USA session. "I have a feeling that by the end of the week, we'll feel this was just another blip on the radar".

The tech sector in those three nations features a roster of the world's biggest names in consumer electronics and industrial automation, from Sony.

Disney shares closed down 3.9 percent as investors were skeptical of its plan to launch streaming services rather than rely on Netflix. The stock lost $5.23 to $101.75.

Equity markets had traded with a soft tone in Europe and there was a sharp increase in selling pressure in NY with the S&P 500 index declining by close to 1.0%.

MEDIA MALAISE: Shares in several other big media companies were down.

US crude CLc1 was unchanged at $48.59 per barrel and Brent LCOc1 was last at $51.84, down 1.63 percent on the day. The company booked a hefty charge and said its CFO is leaving the company.

Housebuilders Persimmon, Taylor Wimpey (LSE: TW.L - news) and Barratt fell by 2.8 to 3% on weak house price data.

Travel operator TUI flew slightly higher after reporting on a strong third quarter performance, with sales and profits taking off during the early summer months, although it left its full year targets unchanged. While the U.K.'s FTSE 100 Index has slumped by 1.5 percent, the German DAX Index is down by 1.1 percent and the French CAC 40 Index is down by 0.8 percent.

Meanwhile, market bellwether Samsung Electronics Co. backtracked 0.65 percent, and top automaker Hyundai Motor was down 0.34 percent.

With the rhetoric rumbling on, Europe's top-rated German bond yield held near six-week lows. On the Nasdaq, 1,881 issues fell and 795 advanced. Against the yen, the euro last traded at 128.29 yen, down 0.2 percent. Traders there were also digesting a rise in jobless claims and the biggest drop in producer prices in 11 months.

Benchmark 10-year notes US10YT=RR were last up 12/32 in price to yield 2.201 percent, from 2.242 percent late on Wednesday.

The dollar weakened against the yen, which is often sought in times of geopolitical tension. They have soared over 2 percent in the previous two sessions, and are set for a weekly gain of 2.26 percent. Copper rose 4 cents to $2.94 a pound.

South Korea's won dropped 0.9 per cent against the United States dollar to its lowest close since July 13. Brent crude, used to price worldwide oils, gained 56 cents to $52.70 in London.

The euro was slightly up against the U.S. dollar to last trade at 1.1754, though the single currency has plunged from the highs of 1.1909 achieved last week following reports showing a strong labor market in the US.



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