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North Korea Fires Ballistic Missile Which Flies Over Japanese Airspace; VIX, Yen Spike

Courtesy of ZeroHedge. View original post here.

Live Feed from NHK (in Japanese)

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Update 3: According to Richard Haass, president of the CFR, the "N. Korea missile test over Japan will stimulate missile defense buildup as well as intensify consideration of preventive military action"

N Korea missile test over Japan will stimulate missile defense buildup as well as intensify consideration of preventive military action

— Richard N. Haass (@RichardHaass) August 28, 2017

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Update 2: The Pentagon confirms North Korea conducted a missile launch in last 90 minutes which flew over Japan, and adds that the North Korea missile didn't threaten North America.

“We assess North Korea conducted a missile launch within the last 90 minutes. We can confirm that the missile launched by North Korea flew over Japan,” Pentagon says in statement.

U.S. says it’s still assessing launch; NORAD determined launch did not pose a threat to North America

“We are working closely with Pacific Command, Strategic Command and NORAD and will provide an update as soon as possible”

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Update: Japan PM Abe, speaking to reporters in Tokyo after the launch, said North Korea appears to have fired a missile that flew over Japan. According to subsequent reports as many as three separate ballistic missiles may have been launched.

"It seems that DPRK missile passed over our airspace," Prime Minister Shinzo Abe said adding that the government was urgently collecting intelligence on the incident and doing everything to ensure the safety of its citizens.

Source: CNN

Abe's Chief Cabinet Secretary Yoshihide Suga adds that while North Korea has made multiple threats and missile launches since last year, a missile flying over Japanese terriority is a unprecedented, grave and serious threat to Japan’s safety.  He also said that Launch is extremely problematic and dangerous, and a clear violation of UN Security Council violations.

Suga also said that one missile was launched and landed 1,180km east of Hokkaido’s Cape Erimo, northeastern Japan, and that Japan protested the missile launch using the strongest possible terms

NHK, Japan's national public broadcasting organization, reported the Japanese government issued a warning to people living in northern prefectures to take cover near strong structures after reports of the launch. It also added that multiple missiles were fired by North Korea. Finally, NHK notes that the missile appears to have broken up into 3 parts.

Citing government sources, NHK reports that the missile likely landed off eastern coast of Hokkaido.

The North Korea missile reportedly passed over Hokkaido around 6:06am JST.
 

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Three days after North Korea launched three short-range ballisitic missiles, a move which as we discussed last night was met virtually without any response by the US administration and which we said would embolden North Korea to proceed with further provocations, Kim Jong Un has done just that and moments ago Yonhap reported that North Korea has fired another missile.

  • N.KOREA FIRED UNIDENTIFIED PROJECTILE FROM PYONGYANG: S.KOREA
  • N.KOREA PROJECTILE FIRED FROM REGION NEAR PYONGYANG – YONHAP
  • N.KOREA FIRES PROJECTILE INTO SEA OFF EAST COAST – YONHAP CITING S.KOREA MILITARY

Yonhap also adds that the projectile was fired into the East Sea.

According to Japan's NHK, the Japanese government warns that the North Korea missile is headed toward Northern Japan:

  • JAPAN GOVT WARNS PEOPLE IN NORTHERN JAPAN TO TAKE PRECAUTIONS AGAIN POSSIBLE NORTH KOREA MISSILE – NHK

Shortly after the launch, the Japanese government urged citizens to take refuge in solid buildings or underground shelters.

Source: @RussianMarket

The North Korea missile passed over Hokkaido around 6:06am JST, according to NHK, while the South Korean military confirms North Korean ballistic missile flew over Japan.

The USDJPY is tumbling on the news…

Japanese equity market futures plunged to 4-month lows…

The S&P is lower, and Gold higher…

And VIX is surging:

… Although the latest update from NHK is that contrary to initial reports, the missile has passed over Japan, reportedly over Hokkaido:

  • NORTH KOREA MISSILE HAS PASSED OVER JAPAN – NHK

NHK also adds that Japan did not attempt to shoot down the missile:

  • JAPAN DIDN'T ATTEMPT TO SHOOT DOWN MISSILE: JAPAN GOVT VIA NHK

Unconfirmed reports state that the launch was from a submarine:

Reports of Submarine launch by North Korea

— InsideNK (@inside_nk) August 28, 2017

If the Japanese report is accurate, and a N.Korean missile indeed flew over Japan, it will be seen as a substantial escalation in hostilities and will most likely merit a response.


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