U.S. stock futures dropped but Asian shares were resilient on Monday as investors weighed the near-certain prospect of an interest rate hike in the United States this month against news of China’s slower 2017 growth target. Risk appetites also took a hit on rising geopolitical tensions in East Asia, as North Korea fired four ballistic missiles early in the day, while a spat between China and South Korea over missile defense deepened.
Category: Strategic Defense Initiative
China Roils South Korean Stocks With News of Travel Curbs
South Korean stock trading offered a case in point Friday, with a selloff in hotels, cosmetic makers and other tourism-related companies that made the country’s benchmark the worst performer among Asian equity markets. The slide followed a Yonhap news agency report on China ordering travel agents to halt sales of holiday packages to South Korea.