Missile test rocks markets
6 July 2006
Stock markets and currencies across Asia fell Wednesday after North Korea test-launched missiles. Investors sold regional blue chips following the launch of at least six missiles, including a long-range one that failed less than a minute into its flight, followed by a seventh some 12 hours later. The launch sparked the US to warn North Korea against more provocative acts and push for UN sanctions that were blocked by China and Russia, international media reported. Following the launch, the Hang Seng Index dropped 0.62% while analysts took a wait-and-see approach but warned that investors may move into safe holdings like gold.