Turkey’s lira and bonds extended losses following weekend protests against a proposal making it easier to ban websites, part of the government’s fight against a corruption scandal it says has cost the country $46.5 billion.
Emerging-market stocks fell, trimming the first weekly gain this month, as India’s most- valuable company missed sales estimates and China resumed initial public offerings. Turkey’s lira slumped to a record.
Tupras Turkiye Petrol Rafinerileri AS slumped to the lowest level in more than nine months after tax authorities started an investigation into Turkey’s sole oil refiner. Parent company Koc Holding AS and its units also fell.
Turkey’s anti-government protests are providing a boon to Katmerciler Arac Ustu Ekipman Sanayi & Ticaret AS, the producer of water cannon-armed trucks whose shares are beating Istanbul’s benchmark index.