BUSINESS / Markets

Asian stocks drop while yen and franc gain after North Korea missile launch

Amid tensions, investors flock to safe havens

Asian shares were mostly lower Tuesday as the region was rattled by a North Korean missile test in which the projectile flew over Hokkaido. | AP

Bloomberg, Reuters

Aug 29, 2017

Asian stocks fell, and the yen and Swiss franc gained Tuesday as investors flocked to safe havens after North Korea fired a ballistic missile over Japan, fanning simmering tensions.

Gold extended a rally above $1,300 an ounce and oil rebounded as investors weighed the damage from Tropical Storm Harvey.

Equities declined from Seoul to Sydney, though bounced back from the day's lows, and volatility jumped.

Asian stocks drop while yen and franc gain after North Korea missile launch

Amid tensions, investors flock to safe havens

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