M'sian equities hit, ringgit lowest level in 10 months on Turkish troubles

Malaysian and Asian markets feel heat from slide of lira and weakening euro. (A woman sits beside a digital billboard giving updates on various currencies and the Turkish stock exchange in Istanbul yesterday. - AFP)

PETALING JAYA: Joining a global sell-off, Malaysian equities took a hit while the ringgit slid to its lowest level since November, as fears climbed over a contagion from the currency crisis gripping Turkey.

The US dollar, yen and Swiss franc stood to benefit from the Turkish economic crisis as investors sought shelter in those currencies – widely considered as safe havens.