EMERGING MARKETS-Turkish lira slides to record low, EM stocks bounce

By Sagarika Jaisinghani

Sept 28 (Reuters)The Turkish lira hit a record low on Monday on growing concerns around clashes between Armenian and Azeri forces, while emerging market stocks tracked gains in Asia as data showed a jump in Chinese industrial profits.

The lira TRY= tumbled 1.5% to a low of 7.79 against the dollar, while the Russian rouble RUB= eased for the fourth straight session. Azerbaijan AZ167862306= and Armenia AM120765485= sovereign dollar-denominated bonds fell as much as 3-4 cents.

“Fears are that Turkey gets dragged into another regional conflict,” said Timothy Ash, EM sovereign strategist at BlueBay Asset Management, referring to the fighting over Nagorno-Karabakh, an enclave in Azerbaijan controlled by ethnic Armenians.

The lira, already among the worst performing European currencies this year, received a brief respite last week following a surprise move by the central bank to raise its key lending rate, but analysts said

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Sony slides 2% as Microsoft flashes cash to boost games lineup

By Sam Nussey



a close up of a logo: Sony Corp's logo is seen at its news conference in Tokyo


© Reuters/KIM KYUNG-HOON
Sony Corp’s logo is seen at its news conference in Tokyo

TOKYO (Reuters) – Sony Corp’s shares slid as much as 2% in Tokyo trade on Wednesday after Microsoft Corp said it would buy the parent of games publisher Bethesda Softworks, in a deal to bolster its games slate as it eyes cloud gaming expansion.

Sony’s PlayStation 5 is expected by analysts to outsell Microsoft’s next-generation Xbox consoles when the devices launch in November, bolstered by Sony’s stronger games pipeline including exclusives like “Marvel’s Spider-Man: Miles Morales.”

Microsoft’s $7.5 billion acquisition of the publisher behind hit franchises like “Doom” and “Fallout” helps close that gap, as it pushes into cloud gaming with the launch of a subscription service last week for Android devices.

The Xbox Game Pass is central to Microsoft’s counterattack, with the rival PlayStation Now service from Sony – which has a

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