ASIA-PAC MARKET WRAP: Most Asian markets lower as Korean tensions simmer

Asian equity markets traded mostly lower with the Nikkei 225 down by 0.4% amid geopolitical tensions on the Korean peninsula. Tensions ratcheted up again as the US and South Korea were set to begin military drills. North Korea responded, threatening a “merciless strike” on the US. Nevertheless, the Kospi was relatively resilient, trading lower by just 0.1%. The ASX 200 has been driven by some major earnings with Fortescue Metals rising over 6% after doubling their dividend. Chinese markets were higher, lifted by the telecoms sector after China Unicom confirmed a share placement to tech titans Alibaba, Tencent and Baidu.

JGBs traded marginally higher after the break, after initially trading sideways for much of the morning. Some were pinning the late uptick to JPY 3.13tln of T-bill redemptions on Monday, one of only two lots of redemptions at all in August.

21 Aug 2017 - 05:50- MetalsGeopolitical- Source: RANsquawk

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