Asian bourses stabilise amid Turkish lira sell-off

Markets with strongest trade ties to Turkey most affected, experts say; Indian rupee hits record low

Asian markets recovered some ground yesterday amid an ongoing sell-off in the Turkish lira, where investors are worried about the prospect of a full-blown currency and debt crisis that could have global implications.

Turkish President Recep Tayyip Erdogan upped the ante further when he asked his country to boycott American electronics, including Apple's iPhone, to retaliate against the United States' attempts to isolate his economy.

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A version of this article appeared in the print edition of The Straits Times on August 15, 2018, with the headline 'Asian bourses stabilise amid Turkish lira sell-off'. Print Edition | Subscribe