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2017.05.2205:37:00UTC+00Asian Markets Mostly Higher as Investors Brush Off North Korea Missile Test

Asian equities mostly advanced on Monday, after the continuous recovery on Wall Street while investors priced in another missile test out of North Korea over the weekend.

According to a report from Reuters, North Korea said the missile test on Sunday involved an intermediate-range ballistic missile. Markets also eyed the outcome of U.S.President Donald Trump's trip to Saudi Arabia.

Japan's benchmark Nikkei 225 rose 0.45 percent at 19,678.28. Australia's ASX 200 gained 0.76 percent at 5.771.2, propelled mostly by the energy and materials sub indexes which climbed 2.15 percent and 1.76 percent respectively.

Toshiba's U.S. nuclear arm Westinghouse Electric implied that it will lockout 172 union members as contract negotiations reached a deadlock. Shares of Toshiba slipped 1.08 percent to end at 1,828.2202.

South Korea's Kospi index brushed off reports of the North Korean missile test and added 0.68 percent at 2,304.03.

Mainland Chinese markets were in negative territory. The Shanghai Composite fell 0.48 percent at 3,075.923 while the Shenzhen Composite dropped 13.75 percent at 1,828.2202. Hong Kong's Hang Seng Index was 0.91 percent higher in afternoon trade.

Tags: Share, Stocks, bonds

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