Asian shares rise amid relief after North Korea has a party instead of a missile test
Sydney — The dollar won a reprieve from risk aversion on Monday after North Korean dictator Kim Jong-un decided to hold a party at the weekend rather than launch another missile, tempering safe havens such as the yen and treasuries. Investors remained cautious over the possible economic impact of Hurricane Irma as it chewed its way up the Florida coast, knocking out electricity to 3-million homes and businesses statewide. Japan’s Nikkei rose 1.4% after Pyongyang held a huge celebration to congratulate the nuclear scientists and technicians who steered the country’s sixth and largest nuclear test a week earlier. The US and its allies had been bracing for another long-range missile launch to mark for the 69th anniversary of North Korea’s founding on Saturday. The sense of relief was enough to lift E-Mini futures for the S&P 500 by 0.5%, while yields on 10-year treasury notes rose three basis points to 2.09%. South Korea’s main index added 0.8%, while MSCI’s broadest index of Asia-Paci...
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