Global Markets: North Korea fires two ballistic missiles in test

By MarketsFarm

WINNIPEG, July 25 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– North Korea test-launched two short-range ballistic missiles on Thursday, according to South Korean officials. The launches were in violation of United Nations Security Council resolutions that banned North Korea from using such technology. The missiles were said to have traveled 430 and 690 kilometers, both having reached a maximum altitude of 50 km. The United States has yet to officially comment, while China noted the launches and called for U.S./North Korea arms talks to resume as early as possible.

– Former U.S. Special Counsel Robert Mueller testified before two Congressional committees on Wednesday. In being hammered with questions from Republican and Democrat lawmakers, Mueller stated he did not exonerate President Donald Trump in his report. He said he didn’t pursue criminal charges against Trump because of a long-standing policy of not indicting a sitting president. Mueller spent nearly two years investigating allegations Trump’s campaign conspired with Russia in the 2016 election.

– After a U.S. Navy guided-missile cruiser sailed through the Taiwan Strait, China expressed its deep-concern on Thursday. The military-posturing by the U.S. came a day after China stated it would go to war with Taiwan, if the island nation sought ‘independence.’ Following the end of the Chinese Civil War in 1949, Taiwan broke away from China, which the latter has long asserted island is still part of China and not an independent country. Although the U.S. no longer officially recognizes Taiwan as a country, it maintains close economic and military ties with the island.

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