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North Korea's Latest Missile Test Rattles Global Markets

17 September 2017

The North's official Korean Central News Agency (KCNA) said Saturday that North Korean leader Kim Jong-un inspected the launch on site.

Last month, North Korea fired its first missile over the country for a number of years.

"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", Mr Kim was quoted as saying by the KCNA.

South Korea said it had fired a missile test into the sea to coincide with North Korea's launch and the presidential Blue House has called a National Security Council meeting.

Following North Korea's ballistic missile test that flew past Japan, the United Nations Security Council is now set to hold another meeting. "Now it is not what we would prefer to do", McMaster said. Last week, Putin criticized the US for fueling "military hysteria" in the region and called for a political settlement.

The sanctions resolution curtailed North Korea's oil supply by nearly 30 per cent, and banned all of its textile exports worth $800 million and remittances of North Korean labourers from overseas.

After meeting in an emergency session, the United States, China, and Russian Federation were united in their opposition to North Korea for firing a missilie over the Japanese island of Hokkaido. It held off on the plan, saying it will watch the USA attitude some more.

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Promoting Australia's bid to serve on the United Nations Human Rights Council next year will be a top priority at the largest annual gathering of world leaders in NY.

Cui Tiankai, China's ambassador to the U.S., said: "Honestly, I think the United States should be doing... much more than now, so that there's real effective global co-operation on this issue".

The objective of the meeting "is to discuss ways the Security Council can better enforce the resolutions it has adopted to prevent the spread of the world's most unsafe weapons", said a USA concept note on the meeting.

The UN Council after its closed-door emergency session on September 15 called Pyongyang's latest missile launch "highly provocative" and "outrageous", and said it represented a threat to the region and "all UN member states".

Data from the flight reveals that the missile travelled higher and further than the one involved in the August flyover of Japan, which suggests the regime is making advances in its programme. "There is a military option", he said, but added that it's "not what we prefer to do".

China's foreign ministry has condemned North Korea's latest missile launch and is calling for all sides to seek dialogue to reduce tensions.

North Korea's Latest Missile Test Rattles Global Markets