News Highlights: Top Global Markets News of the Day

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Global Markets: Havens Boosted After North Korea Missile Launch

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Investors sought out havens, boosting assets such as the Japanese yen, gold and U.S. Treasurys, after North Korea fired a ballistic missile over Japan for the first time since 2009.

North Korea Launches Ballistic Missile Over Japan

North Korea launched a ballistic missile over Japan Tuesday, in the latest in a string of direct provocations that have destabilized the region and triggered global alarm.

South Korea Government to Increase Spending to Spur 2018 Growth

South Korea plans to boost government spending next year to fulfill left-leaning President Moon Jae-in's policy agenda, underpinned by an expected increase in tax revenue.

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U.S. Postpones Import Penalties on Canadian Lumber

The Trump administration said Monday it would delay for two months the imposition of penalties on imports of Canadian lumber, citing continuing bilateral negotiations over the nettlesome trade dispute.

Tropical Storm Harvey Leaves Congress With a Pair of Financial Challenges

Congress will face two unexpected financial challenges next month from Tropical Storm Harvey: further shoring up a heavily indebted federal flood insurance program and providing emergency aid for uninsured damage.

Tropical Storm Harvey Will Cost Tens of Billions of Dollars

Tropical Storm Harvey will take a financial toll on the nation's economy, but how much of one depends on the extent of flooding in the coming days.

Refiner Stocks Rise as Harvey Disrupts Fuel Production

Shares of companies that churn crude into fuel rallied, as Tropical Storm Harvey inundated Texas with punishing rains and raised investors' concerns about tight fuel supplies.

Harvey's Lessons for U.S. Energy

The hurricane's hitting the Gulf Coast of Texas highlights how the U.S. now relies on fewer refineries, run closer to their limits, to turn crude into fuel and get it to consumers.

Saudis, Russia Push to Extend Their Oil Output Cuts

Saudi Arabia and Russia are pushing to extend their deal to limit crude oil production for another three months, which would leave the output deal between OPEC and non-OPEC producers in place through the end of June, people familiar with the matter said.

Harvey Takes a Toll on Property-Insurance Stocks

Shares of property insurance companies are falling Monday, the first trading session after Hurricane Harvey came ashore in Texas.

(END) Dow Jones Newswires

August 29, 2017 01:15 ET (05:15 GMT)