Asian shares drop as mounting Korea tensions spark safe-have demand

Investing.com -

Investing.com - Asian shares fell sharply on Friday, hit by tough language between North Korea and Washington that has sparked safe haven demand.

South Korea's KOSPI dropped 1.71%, while Japan's Nikkei 225 eased 0.05%. The Hong Kong index fell 1.87% and the Shanghai Composite lost 1.60% with other regional benchmark, the Australia S&P/ASX 200 down 1.30%.

Earlier this week, President Donald Trump warned of "fire and fury" if North Korea persisted in threatening the U.S.. On Thursday, Trump said his statement "wasn't tough enough." While he did not comment on what he meant by that statement, Trump said that North Korea should be "very, very nervous" if it "(did) anything in terms of even thinking about an attack."

U.S. stocks were lower after the close on Thursday, as losses in the Technology, Financials and Industrials sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average declined 0.93%, while the S&P 500 index declined 1.45%, and the NASDAQ Composite index declined 2.13%.

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