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    Turkish stocks soar 7.3 pct as risk appetite rises

    HotNewsTurkey Staff
    30.10.2008 - 10:55 | Son Güncelleme: 30.10.2008 - 17:42

    Turkish stocks soared 7.38 percent on Thursday as Asian share markets rallied on initial signs that investors are rediscovering an appetite for risk in response to global efforts to prevent the financial crisis from leading to a deep recession. (UPDATED)

    The Turkish currency lira, which traded below 1.50 levels against the U.S. dollar at the start of trade, lost its early gains and traded at 1.54 levels slightly down from 1.55 levels at half-day trade on Tuesday.

     

    The lira had touched 1.74 levels against the dollar last week. The lira currency lost around a quarter of its value against the U.S. dollar this month as investors and hedge funds had been selling their assets and demanding U.S. dollar while leaving the emerging market.

     

    The yield on the benchmark June 23, 2010, also declined 0.13 percent and closed at 23.52 percent from its Tuesday's close.

     

    Asian markets continued their rally as the Nikkei average surged 10 percent on Thursday to its highest close in more than a week, the highest close since Oct. 22. European shares also climbed 2 percent and U.S. stock futures pointed to a rise when Wall Street opens.

     

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