Turkish lira hammered again as crisis spills into Asian markets

Turkish lira hammered again as crisis spills into Asian marketsAsian markets tumbled and the Turkish lira dived almost eight percent Monday on fears that the economic crisis gripping Turkey could spill over into the global economy. With investors already on edge over the China-US trade war, the lira’s collapse sparked a sell-off in Europe and New York at the end of last week, with safe haven assets including the Japanese yen and Swiss franc rallying.


Source: Yahoo! News

Top Asian News 8:06 p.m. GMT

Top Asian News 8:06 p.m. GMTTANJUNG, Indonesia (AP) — Scientists say the powerful Indonesian earthquake that killed nearly 400 people lifted the island it struck by as much as 25 centimeters (10 inches). The National Disaster Mitigation Agency said on Saturday that 387 people died, jumping from the 321 it reported the previous day, as search and rescue teams continued to sift through the rubble and people already buried by relatives are accounted for. Using satellite images of Lombok from the days following the Aug. 5 quake, scientists from NASA and the California Institute of Technology’s joint rapid imaging project made a ground deformation map and measured changes in the island’s surface.


Source: Yahoo! News

Asian stocks creep higher, but weak growth worry caps gains

Asian stocks creep higher, but weak growth worry caps gainsBy Andrew Galbraith SHANGHAI (Reuters) – Asian stocks inched higher on Thursday as the United States and Europe agreed to negotiations to ease barriers on trade, but ongoing concerns about the outlook for global growth weighed on investor sentiment. A warning of slowing growth from Facebook Inc, which saw the company’s stock fall as much as 24 percent in after-hours trading on Wednesday, highlighted risks for investors and businesses in the current earnings season. Detroit automakers General Motors Co, Ford Motor Co and Fiat Chrysler Automobiles NV (FCA) also lowered their full-year profit forecasts on Wednesday, in an indication that trade war worries are far from over.


Source: Yahoo! News