Markets are shrugging off North Korea's latest missile launch

16 September, 2017, 18:58 | Author: Valerie Burke
  • North Korea ski resort exposed

The North Korean state media said the reclusive nation's aim was to seek an "equilibrium" of military force with the USA after an emergency meeting of the UN Security Council again condemned the Pyongyang's nuclear and missile tests.

In a statement, the Security Council said the launch was carried out just three weeks after a first missile overflew Japan and less than two weeks after Pyongyang's sixth and biggest nuclear test.

"The Security Council also emphasized the vital importance of North Korea immediately showing honest commitment to denuclearization through concrete action and stressed the importance of working to reduce tension on the Korean Peinsula", said Tekeda Alemu, President of the Security Council.

"We should clearly show the big power chauvinists how our state attain the goal of completing its nuclear force despite their limitless sanctions and blockade", Kim was quoted as saying.

"I believe it will further North Korea's isolation-diplomatic and economic isolation-because more and more nations are realising there's simply no collaboration with the global community".

The Security Council stressed in Friday's press statement after a closed-door emergency meeting that all countries must "fully, comprehensively and immediately" implement all United Nations sanctions.

The U.S. Pacific Command detected and tracked what it assessed as a single North Korean ballistic missile launch yesterday at 5:57 p.m.

The South Korea's military said that the missile reached an estimated altitude of about 770km (478 miles) and travelled 3,700km before landing in the sea off Hokkaido.

That launch was followed by a nuclear test on September 3 - its largest to date - which Pyongyang said was a hydrogen bomb small enough to fit onto a missile.

Japanese UN Ambassador Koro Bessho told reporters that North Korea's latest launch was an "outrageous act" and that the existing sanctions must be fully implemented.

Kim's comments suggest he has been clearly irked by President Donald Trump's bellicose remarks in recent months.

"As Kim Jong Un's most recent missile launch demonstrates, North Korea remains one of the world's most urgent and unsafe security problems".

The UN sanctions have cut off now 90 per cent of trade going into North Korea, Haley said.

The growing frequency, power and confidence displayed by the state's tests has heightened fears North Korea is closer than ever to its goal of building a military arsenal that can target both USA troops in Asia and the U.S. homeland.

United Nations spokesman Stephane Dujarric said the secretary-general called on North Korea's leaders "to cease further testing, comply with the relevant Security Council resolutions, and allow space to explore the resumption of honest dialogue on denuclearization".

Apparently with China and Russian Federation in mind, the council hailed efforts by council members and other states to promote "a peaceful and comprehensive solution" to the North Korean issue through dialogue.

The missile posed no threat to North America or Guam, Manning told reporters during a briefing this morning. The test was an apparent threat to Washington as the United States territory of Guam is located just 3,380 kilometers (2,100 miles) from North Korea.

US Secretary of Defense James Mattis said the launch "put millions of Japanese into duck and cover", although residents of northern Japan appeared calm and went about their business as usual.


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