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Asian markets extend gains as North Korea holds fire on Guam

Asian equity markets extended gains on Tuesday after North Korea’s leader signaled the country would hold off on any decision to fire missiles toward the U.S. territory of Guam

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Asian equity markets extended gains on Tuesday after North Korea’s leader signaled the country would hold off on any decision to fire missiles toward the U.S. territory of Guam, helping lift investor sentiment.

The Nikkei Asia300 Index of some of the region’s most influential companies outside Japan climbed 0.3% to 1,273.03. Japan’s Nikkei 225 Average was the region’s best performer, advancing 1.3% as the yen weakened and traders appeared to hunt for bargains after it tumbled the previous day.

Hong Kong’s Hang Seng Index, China’s Shanghai Composite and benchmark stock gauges in Taiwan and Thailand rose at least 0.4% each.

South Korean and Indian markets were closed for the Liberation Day and Independence Day holidays, respectively.

North Korea’s Kim Jong Un decided to delay firing missiles after discussions with army officers, its state media reported Tuesday.

The country had last week detailed plans to fire four ballistic weapons into waters near Guam in the Pacific Ocean, prompting U.S. officials including President Donald Trump warn the country over such an action. U.S. Defense Secretary James Mattis on Monday said the U.S. would intercept North Korean missiles heading to Guam.

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Markets

Thai Mango growers complain of low prices and fewer exports

Because of the global COVID-19 pandemic, their mangoes are not being exported, due to fewer buyers, and their prices have plunged to between 10 and 20 baht per kilogram, depending on size.

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Mango orchard owners in Thailand’s northern province of Phitsanuloke are seeking help from the provincial administration to promote the sale of their sweet fruit, particularly Barracuda Mango variety.

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Investment

Foreigners’ Participation in Thai Listed Companies explained

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Similar to foreign business laws existing in most Asian countries, Thai laws have imposed restrictions on foreign ownership of Thai companies.

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