The Turkish stock market is expected to rise for the first week since the fund crisis broke out in mid-September and the domestic financial sector was impacted. The Istanbul 100 Index rose 5.3% this week and is expected to close its first weekly gain since the week of September 11. According to Bloomberg statistics, the index previously fell for seven consecutive weeks, making it the longest continuous decline cycle since records began in 1988. The main driver of this round of growth: the two banks responsible for handling Turkish fund clearing operations sold about US$254 million of blue-chip shares through large-scale private transactions this week to ease market pressure.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.