Asian equity markets ended in red on Monday as turmoil in Turkey and the lira's free-fall triggered fears of contagion. Tensions between the US and Turkey have been on the rise due to Turkish detention of US pastor Andrew Brunson and Trump's move to double metals tariffs on Turkey. Japanese shares ended lower, tracking weak cues from the US and Europe and a firmer yen on concerns that the financial crisis in Turkey will have a spillover effect on the world economy. Further, Chinese shares ended down, but managed to recoup most of their earlier losses aided by gains in shares of technology firms.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,786.25 | -9.06 | -0.33 |
Hang Seng | 27,936.57 | -430.05 | -1.54 |
Jakarta Composite | 5,861.25 | -215.92 | -3.68 |
KLSE Composite | 1,783.34 | -22.41 | -1.24 |
Nikkei 225 | 21,857.43 | -440.65 | -2.02 |
Straits Times | 3,245.34 | -39.44 | -1.22 |
KOSPI Composite | 2,248.45 | -34.34 | -1.53 |
Taiwan Weighted | 10,748.92 | -234.76 | -2.18 |
