real-time news and commentary for investors
Tuesday, Aug 27
Wariness over possible U.S. action on Syria hits Asian stocks
- Asian shares are mostly lower after John Kerry signaled that the U.S. could take military action against Syria due to strong suspicions that the latter used chemical weapons against its citizens.
- The Turkish lira hits a record low of 2.0163 to the dollar, although the yen is up, with the USD-JPY -0.7% at 97.85.
- "It's a risk-off story because of Syria and also if you see broad repatriation from emerging-markets currencies, the yen will benefit," says Michael Turner, a strategist at RBC.
- However, Chinese shares are higher following positive data for industrial profits.
- Japan -0.7%, Hong Kong -0.5%, China +0.3%, India -2.8%, Turkey (TUR) -2.9%.
- Japanese ETFs - Stocks: EWJ, NKY, EWV, EZJ, ITF, JSC, JPP, DXJ, SCJ, DFJ, FJP, JPNL, JPNS, DXJS. Bonds: JGBT, JGBL, JGBS, JGBD. Currency: FXY, JYN, YCL, YCS