- The Borsa Istanbul (TUR -0.3%) promptly slides 1% (and out of bull market territory) just as JPMorgan upgrades Turkish stocks to Overweight. JPMorgan's call doesn't say much for emerging markets' ability to control their own destiny: "[No taper] doesn’t change the negatives of the too-large current account deficit, and the Central Bank of Turkey’s uncertain monetary policy, but it certainly makes them a lot less important."
- In other emerging market action, Thai shares (another JPMorgan favorite) plunge 3.4%, the largest one-day decline in more than three months. The SET is now below 1,500. ETFs - THD, TF, TTF
- Elsewhere: Philippine shares (EPHE) rally +0.8%, stocks in Singapore (EWS, EWSS) fall -0.7%, and other Southeast Asian markets are fractionally lower.
From other sites
Video at CNBC.com (May 16, 2014)
Video at CNBC.com (May 15, 2014)
at CNBC.com (Jul 11, 2013)
at CNBC.com (Jun 21, 2013)
at CNBC.com (Jun 11, 2013)
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