North Korea launches a new unidentified missile as tensions with US fester

North Korea fired on Sunday an unidentified projectile from a region near its west coast, a development that was confirmed by U.S. officials.
The nature of the projectile is not immediately clear. The projectile launched appeared to be a ballistic missile.

The launch took place at a region named Kusong located northwest of the capital, Pyongyang, where the North previously test-launched its intermediate-range missle it is believed to be developing.

The launch, if it is confirmed to be test-firing ballistic missile, is the first in two weeks since the last attempt to fire a missile ended in a failure just minutes into flight.

The North attempted but failed to test-launch ballistic missiles four consecutive times in the past two months but has conducted a variety of missiles testing since the beginning of last year at an unprecedented pace.

The launch is the first since a new liberal president took office in South Korea on Wednesday saying dialogue as well as pressure must be used to ease tensions on the Korean peninsula and stop the North's weapons pursuit.

Source: Bloomberg Pro Terminal

Jr Trader Alexander Kumanov

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