US-North Korean tensions rock markets; STI slips 1.4% for week

TENSIONS surrounding North Korea's planned missile tests and the potentially harsh US retaliation that might ensue brought the sellers out on Friday and sent the Straits Times Index down 43.52 points or 1.3 per cent to 3,279.72.

For the week, the index lost 47 points or 1.4 per cent. Turnover in recent days has increased - on Thursday, a hefty S$1.8 billion was done, falling back on Friday to a still-decent 2.7 billion units worth S$1.5 billion.

On Thursday, North Korean war rhetoric triggered a large correction on Wall Street, its largest since the technology selloff of May 17. This came after US President Donald Trump told reporters that his Wednesday "fire and fury" warning to North Korea might not have been tough enough.