Highlight Investment Research is an independent and privately owned organization, has come a long way and today has emerged as a premium Indian stock & commodities consultancy, with an absolute focus on business and a commitment to provide “Real value for money to all its clients”.
Asian stocks mostly steadied Tuesday as the contagion from the economic crisis in Turkey remained relatively contained in developed markets overnight. The dollar slipped from its highest in 14 months and Treasuries were little changed.
Equities climbed in Japan as the yen pared some of Monday’s rise. Australian and South Korean shares also rose while those in China and Hong Kong traded lower. The offshore yuan was little changed even as data showed China’s economy hit a mid-year rough patch. Earlier, the S&P 500 Index fell for a fourth day, its longest run of losses in five months. Turkey’s lira edged lower, but was relatively stable after slumping over 20% in four days.
The economic troubles in Turkey have gripped global financial markets, with investors scrambling to determine whether and how far pain there would spread. President Donald Trump’s top national security aide warned Turkey’s ambassador on Monday that the U.S. has nothing further to negotiate until a detained American pastor is freed, according to people familiar, signalling a standoff between the countries will continue.
Still, many analysts say there are few fundamental reasons to add the whole developing world to the same basket as several countries have done their homework. That means: while the stress in Turkey may continue, its correlation to the rest of the emerging-market asset class may breakdown soon.
“It’s a large local difficulty, but so far the contagion has been relatively limited,” Ray Attrill, head of foreign- exchange strategy at National Australia Bank Ltd. in Sydney, said on Bloomberg Television. “We’re seeing a little bit of signs of contagion within the euro zone, within the spreads of those government bonds in countries where the banking sector appears to have the biggest exposure as far as Turkey is concerned.”
No comments