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When it comes to Turkey’s stock exchange and the disguise thrown up around the parlous state of the Turkish economy, it is quite clear that any big advance on the bourse will have absolutely nothing to do with the fundamentals.
On the afternoon of September 27, a sudden and certainly unexplainable inflow of about $150mn into Turkish banking stocks moved the banking index up by 8% and the benchmark BIST-100 by 5% in an hour prior to the weekly market close.
That inflow out of the blue increased the transaction volume of the banking index to $768mn on September 27 from $404mn on September 26.
Erdogan’s stock exchange or Las Vegas?
Erdogan’s Syria adventure resulted in a sharp decline in dollar terms on the MSCI Turkey index in October before rebounding in the second half of the month until mid-November.
Risk over ‘The US vs. Halkbank’ indictment remain.
8.3.2 Dividend dynamics
2018
Gross
Net
Net
Total
Gross
Dividend
Dividend
69 TURKEY Country Report December 2019 www.intellinews.com
