U.S. stocks close lower as Turkey currency crisis dampens risk appetite. The Dow Jones Industrial Average DJIA, -0.50% shed 125.44 points, or 0.5%, to 25,187.70. The S&P 500 SPX, -0.40% fell 11.35 points, or 0.4%, to 2,821.93, with energy and materials sectors among the biggest losers. The Nasdaq Composite Index COMP, -0.25% wove in and out of negative territory all day and finished down 19.40 points, or 0.3%, to 7,819.71.

Europe: Stocks dips to 3-week low as Turkey dents lenders. The pan-European SToxx 600 fell 0.2 per cent and closed at a three-week low, with Germany's DAX down 0.4 per cent as pharmaceuticals group Bayer weighed. Euro zone bank stocks fell 1.8 per cent and touched levels not seen since December 2016 during trading.

Oil Drops on Strong Dollar, Turbulence in Turkey. Futures dipped 0.6 percent in New York on Monday, paring some of its losses as the commodity tracked choppy movements in the dollar during the session. Yet, the U.S. currency maintained its advance, reducing the appeal of raw materials as an investment.

China's July new loans rise to 1.45 trillion yuan, above forecasts: CBIRC. China's new loans totalled 1.45 trillion yuan in July, an increase of 623.7 billion yuan from a year earlier.

China banks bad loans surge most on record amid deleveraging. Non-performing loans rose 183 billion yuan (S$36.7billion) to hit 1.96 trillion yuan by the end of June, the biggest quarterly jump in data going back more than a decade, the China Banking and Insurance Regulatory Commission said in a statement on Monday. Soured loans represented 1.86 per cent of total advances, the highest ratio since March 2009.

Source: CNBC, Bloomberg, Reuters, Business Times, Phillip Securities Research