Markets mostly higher in Asia, shrug off North Korea missile test; ASX up 0.7%- Get Free Trials

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Asian equities traded mostly higher on Monday, following the continued recovery on Wall Street last week and as investors digest yet another missile test out of North Korea at the weekend.

The hermit state said the missile test on Sunday involved an intermediate-range ballistic missile. North Korean state media said leader Kim Jong Un had "approved the deployment" of the missile.

Markets are also likely watching the outcome of US President Donald Trump's first foreign trip which began in Saudi Arabia during the weekend. An arms deal worth USD 350 billion was inked on Saturday between the two countries.