Turkey's market regulator said it will liquidate some of the funds managed by seven asset management companies, including Tera Portfoy and Pusula Portfoy. Previously, some funds under the three asset management companies failed to meet investors' redemption requirements, triggering a sharp sell-off in the Turkish stock market. It is in this context that the liquidation decision was made. Turkey's Financial Stability Board said earlier on Thursday that the turmoil did not pose a fundamental or structural risk to the country's capital market, and promised to take steps to ease liquidity constraints and prevent the risk from spreading.

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