Market Morning: Asia Down, India Pummeled, Sears on Death Bed, Turkey Shoots Self in Foot – Asian stocks are down this morning, with Japan, China, and Hong Kong all participating in the pullback. Japan’s Nikkei (NYSEARCA:EWJ) is down close to 1%, Hong Kong’s Hang Seng (NYSEARCA:EWH) is down 1.8%, and China (NASDAQ:MCHI) is down 1.6%. The Chinese Yuan (CNY=X) hit the 6.9 level this morning, its lowest level against the US Dollar since April 2017. The Turkish Lira (TRY=X), the latest focal flashpoint of an emerging market currency crisis, has given back some of its gains made yesterday, down, down 0.7% against the dollar, and the Indian Rupee (NYSEARCA:INR) now is in trouble, having hit a record 70 against the US dollar for the first time. Gold has broken through support at $1,200, though strongly up today is the cryptocurrency sector, with strong gains across all major coins including Bitcoin (BTC-USD), Bitcoin Cash, and Ethereum. Read more:
https://marketexclusive.com/market-morning-asia-down-india-pummeled-sears-on-death-bed-turkey-shoots-self-in-foot/2018/08/