KUALA LUMPUR (Aug 13): IHH Healthcare Bhd shares declined as much as 32 sen or 6% to RM5.43 so far today with the broader market as investors evaluated the impact of the depreciating Turkish lira on world markets.

IHH is in the spotlight as the group owns 60% of the Turkey-based Acibadem integrated healthcare chain, according to IHH's website.

At Bursa Malaysia, IHH shares were transacted at RM5.50 at 10:47am with some 10 million shares traded. The FBM KLCI fell 16.53 points to 1,789.22 amid weaker global market sentiment.

Reuters reported that Asia share markets skidded and the euro hit one-year lows on Monday as a renewed rout in the Turkish lira drove demand for safe harbours, including the US dollar, Swiss franc and yen. The lira plunged to a fresh record low of 7.24 against the dollar in Asia Pacific trade, where markets were opening for Monday morning.

The currency has lost more than 45% of its value this year, largely over worries about Turkey President Tayyip Erdogan's influence over the economy, his repeated calls for lower interest rates in the face of high inflation and worsening ties with the United States. On Friday, the lira tumbled as much as 18% at one point, its biggest daily drop since 2001.

In Malaysia today, AmBank (M) Bhd wrote in a note that the risk from the depreciating lira on emerging markets cannot be ruled out.

"Countries with heavy foreign US dollar-denominated debt will face strong pressure from a strengthening greenback and rising interest rate by the US Fed. Apart from Turkey, the risk is on Argentina, the Philippines, Brazil, Indonesia, Mexico and Malaysia.

"Vulnerability on the ringgit is partly due to high public debt of about 80% of GDP, gross financing that needs around 10.4% of GDP and about US$80 billion maturities coming in 2019," AmBank said.