UN Secretary-General condemns DPRK ballistic missile launch

UN Secretary-General condemns DPRK ballistic missile launch

The United Nations Security Council will hold an emergency meeting on the latest missile launch by the Democratic People's Republic of Korea (DPRK) on Friday, sources said on Thursday.

"The Security Council also emphasized the vital importance of North Korea immediately showing honest commitment to denuclearization through concrete action and stressed the importance of working to reduce tension on the Korean Peinsula", said Tekeda Alemu, President of the Security Council.

"The full range of capabilities are at our disposal against the threat from North Korea", Manning said.

Hong Kong's Hang Seng fell 1% at session lows on continued weakness in financial stocks.

Japanese shares shrugged off a weak start to end modestly higher as the dollar regained its footing against the yen after sliding in early trading.

Showa Denko KK, Tokai Carbon, Mitsubishi Motors, Astellas Pharma, Nikon and Tokyon Electron were among the prominent gainers.

Since then, Pyongyang has conducted its most powerful nuclear test, threatened to fire missiles into the waters around the USA pacific island territory of Guam and launched two missiles over Japan.

There was no such rebound in Australia, helping push the S&P/ASX 200 down 0.7%. The broader All Ordinaries index closed down 42.60 points or 0.73% at 5,755.80. BHP Billiton and Rio Tinto both fell almost 2% on recent declines in metals prices. Banks ANZ and Westpac fell over 1% while rivals Commonwealth and NAB ended down 0.6% and 0.3%, respectively.

Terming the ballistic missile launch as "highly provocative", the Council members "condemned further the DPRK for its outrageous actions, and demanded that the [the country] immediately cease all such actions". While activity in the country's manufacturing sector expanded at a faster rate in August, house sales dropped by 20%, separate reports showed.

New Zealand's NZX 50 fared even worse, dropping 0.8% on steady afternoon selling.

The dollar and Treasury yields were supported by the latest U.S. consumer inflation data, which bolstered expectations that the U.S. Federal Reserve could raise interest rates again by year-end.

Russian Federation has also criticised the administration of Donald Trump for its "aggressive" role in the crisis, "Regrettably, aggressive rhetoric is the only thing coming from Washington".

U.S. stock futures pointed to a steady start for the S&P 500, which is on track for a near 1.5 per cent rise this week after another run of record highs.

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