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Komfie Manalo, Opalesque Asia:

A number of U.S. based hedge funds are deeply concerned in the deteriorating geopolitical events in the Korean Peninsula with Washington accusing Pyongyang of "begging for war" as it asked the UN with the strongest sanction after Sunday's underground atomic test which North Korean claimed was a hydrogen bomb.

Writing for CNBC, Dr. Michael Ivanovitch said hedge funds and investment managers are worried with the current military standoff in Northeast Asia and have raised a caution flag on asset values in countries (making up 40% of the world economy) most likely to be affected should a shooting war erupt in the Korean peninsula.

"In an environment of confusion and bellicose rhetoric, it is perhaps normal that people known for their daring market bets should be erring on the side of prudence," Ivanovitch writes. He added, "What else is there to do when the White House says that the time for talk with North Korea is over, while the Pentagon urges diplomatic efforts, and a British military analyst, writing for a major Western newswire, doubts whether the US would be able to intercept Pyongyang's missiles."

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