Asian markets steady, Turkish lira cuts losses
Asian markets opened steady on Monday as the the U.S. dollar gained on the yen in Asia.
A report by Reuters stated that investors unwound safe-haven trades in the wake of the failed coup in Turkey. The appreciation by yen was also fuelled by a giant takeover bid in the tech sector and the promise of central bank stimulus which lent support to equities.
The Turkish lira was quoted around 2.9675 after the dollar climbed almost 5 % late Friday to a six-month peak around 3.0476.
Dealers noted liquidity was sparse and a true price would only be found once Turkish markets opened, Reuters reported.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1 % having reached its highest in almost nine months last week.
The Hang Seng index edged up only 0.04% at 21,667.65 points in early trade session on Monday.
SGX Nifty also edged up 0.22% at 8,579 points at 8:28 am IST.
Brent crude prices were trading up 6 cents at $47.68 a barrel.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
IRCTC Dividend 2024: Railway PSU announces 200% interim dividend - Check record date and other details
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
08:35 AM IST