And here we go.
Although it’s still far too soon to draw any conclusions, it’s worth noting that South Korea is under pressure in early trading.
The won just hit a three-week low…
…after sliding as much as 0.8% on the heels of Trump’s promise to deliver heretofore unseen “fire and fury” on Pyongyang:
And the Kospi gapped lower right out of the gate:
It’s worth noting that the aussie is getting hit too on the broad risk-off move:
But don’t worry. “North Korea’s response to U.S. President Donald Trump’s comment won’t have much effect on South Korea’s Kospi benchmark, judging by the index’s previous performance amid similar situations,” Kim Yong Goo, equity strategist at Hana Financial Investment, tells Bloomberg by phone, adding that “for investors trading South Korean equities, threats from North Korea are ‘business-as-usual.‘”
Just another day under the mushroom cloud…