Page 17 - Frx News Today

Asia's stockmarkets slid toward a second month of losses in a row on Wednesday, and even the glittering Nikkei paused, as weak Chinese factory activity fed growing doubts about the post-pandemic recovery in the world's second biggest economy.

A look at the day ahead in Asian markets from Jamie McGeever.

Turkey's lira tumbled on Wednesday to a fresh record low against the dollar as President Tayyip Erdogan prepared to decide the shape of his new cabinet and the direction of economic policy after an election triumph.

A look at the day ahead in European and global markets from Sonali Desai

Turkish lira implied volatility gauges climbed on Wednesday with the one-year measure rising to 45.46% - its highest in at least a decade and a half, data from Fenics showed.

Turkish President Tayyip Erdogan is viewed as almost certain to include former economy chief Mehmet Simsek in his new cabinet, either as finance minister or as a vice president responsible for the economy, four senior officials said.

Markets participants have a month to stop using Libor, the tarnished interest rate banks were fined for trying to rig, Britain's Financial Conduct Authority (FCA) said on Wednesday.

South Africa's rand retreated on Wednesday, hovering near a record low hit in the previous session, as weak manufacturing data for China hit commodity currencies and the dollar rose on weakening European inflation.

Nigeria has revised its tax-to-GDP ratio for 2021 to 10.86% from 6% following an adjustment to include revenues collected by other government agencies, the tax office chief said on Wednesday.

A look at the day ahead in European and global markets from Vidya Ranganathan