World Bulletin / News Desk
Asian markets failed Tuesday to hold on to early gains following news that China's economy grew more than expected in the first three months, with trade and geopolitical tensions still dogging sentiment.
The 6.8 percent reading was slightly more than tipped in an AFP survey and came despite a brewing trade dispute with the United States, a drive to address the country's troubling debt mountain and a war on pollution that saw factory production cut.
Hong Kong fell 0.8 percent and Shanghai finished down 1.4 percent. Sydney, where a number of firms that rely on Chinese business are based, was flat, but Singapore added 0.2 percent.
Tokyo closed slightly higher while Seoul eased 0.2 percent, Wellington dipped 0.7 percent and Taipei fell more than one percent.
"The economic performance continued to improve and the economy was off to a good start," said National Statistics Bureau spokesman Xing Zhihong.
However, Xia Le, chief Asia economist at Banco Bilbao Vizcaya Argentaria SA in Hong Kong, said ahead of the release that "growth headwinds remain in place, mainly from domestic policy tightening and trade skirmishes from the US. Growth is most likely to moderate through the year."
BIST 100 index falls by over 2 percent at close, going down some 2,600 points from previous close
Policy rate, also known as one-week repo rate, remains same at 8 percent; lending rate rises 0.75 percent points
BIST 100 increases 0.29 percent; US dollar/Turkish lira exchange rate stands at 4.0850
Local units operating in manufacturing industry work at 77.3 pct capacity in April, says Central Bank
Public sector net borrowing falls by 3.5 billion pounds in 2017-18 financial year, says Office of National Statistics
Indices for service, retail trade, construction sectors fall in current month compared with March: Official data
Data monitoring company IHS Markit also flagged a slight slowdown in France, where strikes were interrupting a resurgent boom on the back of government reforms.
Treasury reports central government debt stock in March rises around 15 pct year-on-year, reaching nearly $235 billion
Sales to foreigners amounted to 1,827, 15.8 pct rise year-on-year, according to official report
BIST 100 slips 0.15 percent; US dollar/Turkish lira exchange rate stands at 4.0460
BIST 100 rises 0.01 percent; US dollar/Turkish lira exchange rate drops to 4.0250
Fresh hopes that Donald Trump and North Korea's leader Kim Jong Un will hold a historic summit within months also provided some much-needed optimism.
The fund cautioned that investors and financial markets expect a steady approach to monetary tightening based on the belief inflation will remain relatively tame.
Turkey's assets abroad go up 2.4 percent at end of February 2018, compared to end of 2017: Turkish Central Bank
BIST 100 decreases 0.12 percent; US dollar/Turkish lira exchange rate stands at 4.1020