Turkey’s lira gained for the first time in three days and bond yields rose after the central bank offered zero funding at its one-week repo auction for a second time in little over a week, tightening funding for lenders.
Emerging-market stocks fell for a second day, led by Chinese shares, as money-market rates surged and investors speculated the government will step up property curbs. The ruble weakened before today’s U.S. Federal Reserve policy announcement.
Japanese stocks rose to a one-week high after exports rose the most since 2010, while Australia’s dollar weakened before the outcome of a Federal Reserve meeting that may shed light on the future for U.S. monetary stimulus.
Third Point LLC, the hedge fund led by billionaire Daniel Loeb, increased its stake in Sony Corp. while pushing for talks with the board on a proposed initial public offering of the company’s entertainment business.
SAC Capital Advisors LP, the Steven Cohen-led hedge-fund manager under an insider trading probe by the U.S. government, hired former Soros Fund Management LLC employee Adam Odorczuk to co-head Asia trading, said a person with knowledge of the matter.