Gold buoyed by global tensions, USA inflation data

Yen Franc Gains May Evaporate as Quickly as They Appeared

usa -traded Nikkei futures fell 2 percent to their lowest since mid-May.

Japan said on Tuesday it was possible that North Korea had already developed nuclear warheads and warned of an acute threat posed by its weapons programs as Pyongyang's continues missile and nuclear tests in defiance of United Nations sanctions.

Wall Street's so-called "fear gauge", the CBOE Volatility Index, eased after hitting its highest levels since Election Day on Friday (http://www.marketwatch.com/story/wall-streets-fear-gauge-on-course-for-biggest-weekly-surge-in-2-years-2017-08-11). Even so, the close was the highest in a month.

US Defence Secretary Jim Mattis told Pyongyang it should stop any actions that would lead to the "end of its regime and the destruction of its people".

World stocks fell for a third day on Thursday and investors shifted assets into safe haven currencies the Swiss franc and yen as well as gold. South Korea, a tech-focused modern economy which accounts for roughly 2% of global GDP in its own right, would also be devastated-and would undoubtedly bear the brunt of the human toll, as well.

Frankfurt's DAX 30 was 0.4 per cent lower at 11,961.60 points.

"A global stock market fund will have its fair share of value and growth companies, unlike - say - the FTSE 100 index, which is predominately value-orientated, with its bias towards energy, mining and financial, or the Japanese TOPIX, which is growth-orientated, with a predominance of consumer goods companies".

Many markets have recently climbed to record or multi-year highs, leaving them vulnerable to a sell-off.

The remarks, following North Korea's earlier revelation of a plan to launch a salvo of ballistic missiles toward the U.S. Pacific territory of Guam, gave investors further incentive to take to the sidelines at least in stock markets. "Tensions are still high and not going away at the moment". -North Korea tensions as market participants bought the yen as a safe haven. MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.48 percent lower.

Will North Korea rain on Wall Street's endless summer?
The dollar was down 0.53 per cent against the yen at ¥109.48 (RM4.30), after briefly dropping as low as ¥109.53. South Korean stocks extended losses late Thursday morning as North Korea risks weighed on the main index.

Cape Investment & Securities said it expected the benchmark Korea Composite Stock Price Index to trade at the 2,300-2,360 range next week. USA stock index futures also fell, with the S&P 500 indicated to open down 0.4 per cent.

The euro was 0.14 percent higher against the dollar. Yesterday's rally in the Swiss Franc was in fact one of the currency's largest one-day gains in the past two-and-a-half years.

The dollar index, which measures the US currency against a basket of major peers, slipped 0.1 per cent as US Treasury yields fell. Yields fall when bond prices rise.

Oil prices rose after a report showed U.S. refineries processed record amounts of crude in the latest week, eating into inventories.

US crude shed 18 cents to $48.99 a barrel, while Brent crude fell 25 cents a barrel at $51.89 a barrel.

In the first four days of the week, the Standard & Poor's 500 index swung from marking its latest record high to posting its biggest single-day drop in almost three months.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose 0.14% to $1,281.06 a troy ounce.

Toyota rose 0.63 percent to 6,275 yen while Sony fell 1.45 percent to 4,338 yen.

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