Nikkei flat as North Korea fears recede; financial stocks tumble

Kim has made it the top priority of his government to develop the weapon which he claims is simply to defend the country against American interventionism

The benchmark index tumbled 1.3 percent on Wednesday to hit the weakest closing since May 31 in the wake of U.S. President Donald Trump's "fire and fury" threat to North Korea, and Pyongyang's warning that it was considering an attack on Guam.

The euro was 0.18 percent lower against the greenback but remains the best-performing G10 currency so far this year with gains of more than 11 percent against the dollar.

Excessive geopolitical fears surrounding North Korea seemed to have receded، traders say، but activity is expected to stay subdued with Japanese markets closed on Friday.

South Korea's KOSPI fell 1.4 percent, taking its losses this week to almost 3 percent. Tensions have been rising in the Korean Peninsula, and reached a new level with President Trump's "threat" of "fire and fury" against North Korea if they should proceed with a missile strike against Guam, a USA territory located in the Pacific.

Asian Stocks Fall Amid Escalating US, North Korea Tension
Net income was $116.0 million, or 38 cents per share, up from $11.0 million, or 3 cents per share, for the same period past year . SIMMERING TENSIONS: North Korea revealed on Thursday a detailed plan to launch a salvo of ballistic missiles toward the U.S.

Currency markets focused on the USA producer price index data due later in the session.

The dollar slipped below ¥110 in Tokyo trading on Wednesday, as the yen attracted safe-haven buying on growing geopolitical risks over North Korea's missile and nuclear development programs.

"The market has calmed down a bit، as they remember that the market did not suffer a major damage in April after North Korea filed a missile،" said Hiroyuki Nakai، chief strategist at Tokai Tokyo Research Center.

Separately, however, US Defense Secretary Jim Mattis, who has often emphasised the devastating costs any conflict with North Korea could have, delivered a statement underscoring his boss's language. "Hard to assess political risk is now intruding on this scenario".

No more vehicle insurance without pollution certificate
In a directive aimed at enhancing the efficiency of PuC centres, the Supreme Court directed the government to monitor them on a regular basis.

Japan is the world's biggest creditor country and there is an assumption that investors there will repatriate funds in a crisis.

Against the tense backdrop, the South Korean won extended its losses on Thursday and touched its lowest level against the dollar in about a month.

Financial stocks underperformed after U.S. Treasury yields fell as bond prices rose in Wednesday's flight to safety.

Stocks ended more than one per cent down in Seoul while the won slumped to a three-week low against the dollar as the United States president and South Korea's volatile neighbour dramatically ramped up their war of words. Spot gold was 0.1 percent lower at $1,276.40 an ounce after having spiked the previous day to a near two-month peak of $1,278.66. It is on track for a weekly loss of 2 percent.

Trump working with Mueller
Trump has long slammed the Russian Federation probe as a " witch hunt ", "fake news" and a "total fabrication". Yet earlier this week, Trump's chief lawyer indicated the president was looking to cooperate with Mueller.

Japan's Nikkei also handed back earlier gains to shed 0.1 percent. It has lost 1.6 percent over the last four days.

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