Southeast Asia takes taper in stride, Turkey shivers

|By:, SA News Editor

Southeast Asian markets barely flinch in the wake of the Fed's move to pare its asset purchases by $10B per month.

Some feared emerging markets in the region would post big losses at the first sign of the taper.

The only index trading notably weaker is the PSEi (EPHE), but even there losses are limited to 0.6%. Stocks in Indonesia (IDX, IDXJ, EIDO) are up 0.85% to a one-week high.

Markets in Turkey did see some turmoil in the wake of the Fed decision, prompting the country's central bank to step-in and pledge support for the lira. The move comes as economists grow increasingly concerned with what one analyst recently called "the continued complexity of [the central bank's] policy scheme." Turkey ETF: TUR.