World Bulletin / News Desk
Most Asian markets fell on Monday after a US-led strike on Syrian targets fuelled fresh concerns over the tinderbox Middle East, though analysts said investors were hopeful the crisis would not escalate.
While there was broad support for the mission, Moscow condemned it as illegal and warned it would provoke "chaos" in international relations.
The Syria crisis, which has seen the West's relationship with Russia grow increasingly frosty, has encompassed other regional players including Iran, Saudi Arabia and Israel, and led to talk of a military standoff.
It also comes against the backdrop of a trade dispute between the United States and China. Many fear this could hammer the global economy if the two sides push through threatened tit-for-tat tariffs on billions of dollars' worth of goods.
Most markets were down on Monday but the losses were limited.
Hong Kong fell 1.6 percent, while Shanghai had slipped 1.5 percent at the close, with traders there awaiting the release Tuesday of first-quarter Chinese growth data.
Property firms in Hong Kong took a hit on fears of an end to the era of low-interest rates as the city's de facto central bank was forced to support the local dollar, which is at 7.85 to the greenback, the lowest end of its band with the US unit.
The Hong Kong Monetary Authority has spent about US$1.7 billion boosting the currency, which has been hit by a flow of cash out of the city to the United States in search of higher interest rates.
Chang Liu, China economist at Capital Economics, warned there was a concern that the HKMA's move would raise interest rates in the city, which could hammer the property market -- among the world's most expensive -- and have a knock-on effect for the economy.
Singapore fell 0.2 percent, while Wellington and Taipei also declined.
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Economic partnership agreement is biggest ever negotiated by EU and will create an open trade zone
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The dollar was up versus the yen but down against the euro and pound, with all eyes on US President Donald Trump's summit with Russian counterpart Vladimir Putin in Helsinki.
Tax revenues totals nearly $72.1 billion while interest payments amounts to over $8.2 billion in January-June period
BIST 100 rises over 700 points; USD/TRY exchange rate stays at 4.8360
Country's egg, chicken, turkey, and meat production climbed in May on yearly basis, says official data
BIST 100 rises over 400 points, while USD/TRY exchange rate drops to 4.8460
Saudi Arabia intends to invest as much as $10 billion in South Africa’s economy, with a focus on energy projects
Share of young people in Turkey age 15-24 who are not in employment, education, or training down 4.5 pct in Q1 year-on-year
Treasury and Finance Minister Berat Albayrak says effective Central Bank is among main policy targets of new era
The European Commission, the EU's executive arm, said the 19-country single currency bloc would expand by 2.1 percent in 2018, lower than the 2.3 percent forecast just weeks ago in early May.
Country's central government research and development expenditures rise by 17.5 percent year-on-year in 2017
The IEA welcomed in its July report last month's agreement between the Organization of the Petroleum Exporting Countries (OPEC) and Russia to open the taps in order to bring prices down from multi-year highs.
In its monthly report, the Organization of the Petroleum Exporting Countries said buoyant world trade in 2017 and 2018 had helped impulse economic growth, and therefore demand for crude.
12-month rolling deficit stands at $57.6 billion, Turkish central bank says