Asia Markets: Asian stocks mostly retreat after North Korea’s latest missile test

Asian stocks were broadly lower following North Korea’s latest missile launch over Japan, but equities there rose slightly even as the yen strengthened.

Moves across markets were largely modest early on, echoing how Asian market participants across asset classes have largely reacted to most of North Korea’s missile launches this year. Although there was a brief selloff following the country’s nuclear-bomb test earlier this month.

Friday’s missile launch is “not a real escalation of what has happened so far,” said Woon Tian Yong, an analyst at Informa Global Markets. “This is not something we have not seen before. Markets are not going to take this too [seriously].

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