In response to North Korea’s latest saber rattling, aerospace and defense sector-related exchange traded funds climbed, reacting to the latest missile launch fired towards Northern Japan.
On Monday, the iShares U.S. Aerospace & Defense ETF (NYSEArca: ITA), PowerShares Aerospace & Defense Portfolio (NYSEArca: PPA) and SPDR S&P Aerospace & Defense ETF (NYSEArca: XAR) all increased 1.2%.
Defense stocks strengthened following North Korea’s latest missile launch across Japanese space. In response, Japanese Prime Minister Shinzo Abe called for stepping up pressure on North Korea as a necessary step, CBSNews reports
The White House echoed Abe’s calls for increasing the pressure on the recluse nation, saying “President Trump and Prime Minister Abe committed to increasing pressure on North Korea, and doing their utmost to convince the international community to do the same.”
Meanwhile, President Donald Trump stated “all options are on the table” in response to North Korea’s ballistic missile that escalated international tensions, CNBC reports.