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July 28, 2017 www.intellinews.com I Page 10
government has just voted through new tougher sanctions that specifically target the oil and gas business, among other things.
And the money keeps flowing – in both directions. Turkish equities experienced an inflow of $48mn in the week ending July 7 as the benchmark BIST-100 tested a new record high of 104,915 on July 13, Turkey's central bank said the same day. In the same week, Russia saw the biggest outflows of the year following the announcement of the impending new US sanctions bill.
Despite the similarities in these political up- heavals, the stock markets of the three counties are behaving very differently as it seems that equity investment decisions are now completely divorced from politics.
The differences can be linked to economics where despite their political problems both Poland and Turkey growing strongly, expanding by 4% and 5% in the first quarter of this year respectively, while Russia is still struggling to climb out of its two year long recession and grew by a meager 0.4% in the same period.
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