Asian stocks slump profit taking amid us nkorea tensions

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Asian Stocks Slump Amid US-NKorea Tensions

Asian stocks fell on Monday, with investors taking profits after a recent rally, as tensions between the United States and North Korea continued to escalate. The S&P/ASX 200 index in Australia dropped 0.8%, while Japan's Nikkei 225 index fell 0.7%. South Korea's Kospi index declined 0.5%.

The sell-off was triggered by a surge in tensions between the US and North Korea, following a series of missile tests by Pyongyang and a warning from the US that it was considering a military response. The US and South Korea also began joint military exercises, which North Korea has condemned as a provocation.

The market also reacted to a decline in oil prices, with Brent crude falling 1.2% to $67.35 per barrel. This weighed on energy stocks, which are sensitive to oil prices.

In China, the Shanghai Composite Index fell 0.4%, while the Shenzhen Composite Index declined 0.5%. Hong Kong's Hang Seng Index dropped 0.6%.

The US-North Korea tensions have been a major concern for investors in recent weeks, and the market is likely to remain volatile until a resolution is reached. In the meantime, investors are likely to remain cautious and take profits from recent gains.

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