Trump's latest praise for Kim Jong Un drew no market reaction as traders dismissed it as a familiar refrain without policy implications.
President Donald Trump said he gets along well with North Korean leader Kim Jong Un and that Kim has always treated him with great respect. The statement, made during an interview published Monday, did not trigger a notable move in South Korean assets or defense stocks by the afternoon session in New York.
Traders said the comment was consistent with Trump's prior rhetoric and did not signal a change in policy. "The market has heard this before," one New York-based currency trader said. "Without a concrete meeting or agreement, it's noise."
South Korea's Kospi index was flat on the day. The Korean won held within a tight range against the dollar. U.S. defense contractors, which sometimes rally on North Korean tensions, showed no unusual activity. Lockheed Martin fell 0.3% and Northrop Grumman slipped 0.1%.
Analysts at Goldman Sachs said in a note that Trump's personal rapport with Kim has historically had limited market impact absent follow-through on denuclearization or sanctions relief. The next scheduled point of contact between the two governments is unclear.
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