Page 57 - TURKRptAug20

Tariff hikes increased costs and reduced Turkey’s ability to compete internationally as intermediate goods accounted for around 70% of total imports, he added.
On July 13, Bulent Kilicer, general manager of Honda Turkey, told local daily Sozcu that the ​Japanese carmaker’s plant in Turkey was for sale​.
Honda will shut down the plant in September next year.
On July 20, local business daily Dunya reported that ​small merchants and service companies as well as organised retailers were in trouble​ due to the ongoing damage caused by the pandemic.
8.3.1 ​Equity​ market dynamics
Foreigners’ share in Borsa Istanbul’s free-float fell to 49.82% at market close on July 7, Is Invest’s daily foreigners’ share bulletin ​showed​ on July 8.
It was the first time since June 2004 that foreigners’ share in the stock exchange fell below 50%.
“The [market] is only 50% owned by foreigners now, the lowest I can ever recall, but volume yesterday was $5bn, which tells you that Turkish retail punters are driving this [market] right now, which explains the volatility and the trading rotation with biduous moves in punters' favourites. There has been a 30% increase in the number of retail brokerage accounts in 2020, a fresh 350k new chancers looking to make a few lira because bonds have no yield and they're stuck at home on the computer. This ends badly at some point. Turkey that is,” Julian Rimmer of Investec wrote on July 8 in an emailed note to investors.
8.3.2 ​ Dividend dynamics
Annual
Gross
Net
Gross
2010-2018
Net
Total
Gross
Dividend
Dividend
Dividend
Dividend
9 years
Profit
Bonus
Bonus
Dividend
Payout
per
per
Yield
Yield
TRY
TRY
share
TRY
Ratio
Share
Share
Payment
Last
Paid
Average
mn
mn
%
mn
%
TRY
TRY
Date
%
Years
%
Erdemir
5,598
-
-
4,830
86
1.38
1.25
May-2019
18.1
9
8.0
57​ TURKEY Country Report​ August 2020 ​ ​www.intellinews.com