The Turkish lira’s post-election rally is over as investors shift their focus from Prime Minister Recep Tayyip Erdogan’s victory last month to companies needing to repay their foreign-currency debts, the top forecaster said.
South Korean President Park Geun Hye arrived at the site where a ferry sank yesterday, as divers battled high waves and strong winds in their search for 287 people still missing, including hundreds of students.
Asian stocks rose for a second day after U.S. industrial production increased more than forecast in March and Federal Reserve Chair Janet Yellen said the central bank remains committed to supporting the economic recovery.
Iron ore prices are set to slump in the second half as more steel companies in China will probably go bankrupt, hurting demand in the world’s largest user just as supply expands, according to Standard Chartered Plc.
Hong Kong stocks rose, with the benchmark index gaining for a second day, after better-than- expected U.S. industrial production boosted optimism in the world’s largest economy. Citic Pacific Ltd. led declines after agreeing to buy its parent’s financial assets.