Within North Korea's existing operational arsenal are the Hwasong-5 and 6, Rodong, and Musudan missiles.
The meeting comes as Beijing has levied unofficial sanctions against Korea for its deployment of the US -led Terminal High Altitude Area Defense (Thaad) system under the last administration, which Beijing says is a threat to its security interests. The Kospi of South Korea climbed 0.2 percent to 2,291.08.
The U.N. Security Council said Sunday it will hold urgent consultations on North Korea's latest ballistic missile test at the request of the United States, Japan and South Korea.
It used a reentry vehicle capable of delivering a warhead to a target, the Korean Central News Agency reported. And it also lifts scientists in the authoritarian nation who are working to build an arsenal of missiles with nuclear warheads that can reach the US mainland.
The U.S. military said it detected the launch, and that flight data indicated it was not an intercontinental ballistic missile, or ICBM. It was not immediately clear what kind of payload it was carrying.
Inada's remarks suggest the missile might have been on a "lofted" trajectory, meaning it could have a far longer range than it actually flew.
North Korea launched two missiles in October past year from an air base in Kusong on North Korea's west coast, on the other side of the country from the usual intermediate-range Musudan test site near Wonsan, on the east coast. The White House had highlighted in its reaction to the launch the proximity to Russian Federation. But if it was sacked at a standard trajectory, it would have a range of at least 4,000 km (2,500 miles), experts said.
Gains across the emerging markets were underpinned by a weak dollar after US economic data came in shy of expectations.
"This clearly tells us they have several different development programs going on", Wright said.
North Korea's missiles can't reach the USA mainland just yet, but Sunday's test may have shown that it's making progress toward that goal, and can already hit US bases in the Pacific.
Sunday's missile test "points to a new threshold of capability potentially crossed", said Euan Graham, an expert on North Korea at Australia's Lowy Institute.
"If the United States dares opt for a military provocation against the DPRK, we are ready to counter it", it said.
Most Asian currencies edged up against the dollar on Monday, shrugging off threats from a ransomware attack that locked up more than 200,000 computers in more than 150 countries, and a missile test by North Korea.
Putin called for diplomacy rather than military action to ease the tensions in the region. North Korea has also claimed important advances in developing a compact nuclear device (recall the infamous photograph released previous year of Kim Jong-un standing adjacent to what appeared to be a compact physics package).
South Korea and the United States began deploying the THAAD system in March and it has since become operational.
The pictures featured a long nose-coned projectile that appeared to be similar to missiles displayed during an April 15 military parade for the birth anniversary of state founder Kim Il Sung, the current leader's grandfather. Unlike multiple past attempts at a missile launch, the medium to long range missile featured in the video was successfully fired and represents a significant technical advance for the reclusive Communist nation.
If North Korea has already conducted a successful test using the engines and other components of the first two stages of the KN-08, it may be closer to an operational ICBM than had been previously estimated.
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