Turkish Bourse gains 3.1% despite short-sale ban
The benchmark Istanbul stock exchange index had ended last week with a 16.6% drop, marking its biggest weekly decline since the global financial crisis of 2008.
The banking sector sub-index also saw a 3.23% increase by 08:56 GMT, after suffering losses exceeding 26% the previous week.
The Turkish lira was stable, trading at 37.9550 against the dollar, showing little change from Friday's close at 37.9500, after it fell by 3.5% last week.
Additionally, Turkiye's international sovereign bonds recovered some of their losses, with bonds maturing in 2045 rising by 0.7 cents to 83.7 cents on the dollar, according to TradeWeb data. These bonds had dropped more than three cents last week.
The market turbulence has been significant since the arrest of Istanbul Mayor Ekrem İmamoğlu on Wednesday, which triggered sharp declines in the lira, stocks, and bonds. This prompted Turkiye's Capital Markets Board to implement exceptional measures, including the short-selling ban and easing restrictions on share repurchases.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Shafaq News
2 hours ago
- Shafaq News
Israel explores moving Gazans to South Sudan
Shafaq News – Gaza / Juba Israel is holding talks with war-torn South Sudan over the potential relocation of Palestinians from the Gaza Strip, raising alarm among human rights advocates, according to a report by the Associated Press (AP). The AP noted the discussions form part of a wider Israeli plan to promote large-scale emigration from Gaza, which has been left in ruins after a 22-month military campaign against Hamas. Six people familiar with the matter confirmed the talks, though it remains unclear how far they have advanced. Prime Minister Benjamin Netanyahu has publicly endorsed what he calls 'voluntary migration,' in line with US President Donald Trump's vision, and Israel has floated similar proposals with other African countries. He claimed in a recent interview that the 'right thing' under the laws of war is to allow the population to leave before intensifying military action against remaining Hamas fighters. However, Palestinians, rights groups, and much of the international community have rejected the plan as a form of forced expulsion that would violate international law, AP indicated.
Shafaq News
2 hours ago
- Shafaq News
Jordan denounces Netanyahu's ‘Greater Israel' vision
Shafaq News – Amman Jordan condemned Israeli Prime Minister Benjamin Netanyahu on Wednesday for recent remarks interpreted as a call for a 'Greater Israel,' warning they pose a direct threat to regional sovereignty and violate international law. During a cabinet meeting yesterday, Netanyahu reportedly outlined a vision for Gaza and the occupied West Bank in terms widely seen as endorsing permanent Israeli control over Palestinian territories. Though no direct quote was released, the remarks drew immediate backlash from Amman. 'This is delusional incitement,' said Foreign Ministry Spokesperson Sufian Qudah, calling Netanyahu's rhetoric a 'serious provocation' and a violation of the UN Charter. He stressed that such statements 'will not diminish Jordan or the Arab world, nor erase the inalienable rights of the Palestinian people.' He described the Israeli premier's position as an escalation that reflects the 'beleaguered state' of the Israeli government amid growing global condemnation of its military actions. 'These reckless fantasies only inflame the conflict and endanger regional peace and stability,' the spokesperson noted, urging the international community to take a firm stand to address the situation.
Shafaq News
2 hours ago
- Shafaq News
Alaska summit signals cautious thaw in US–Russia ties
Shafaq News – Anchorage Russian President Vladimir Putin and US President Donald Trump emerged from their high-stakes summit in Alaska on Friday projecting cautious optimism, with Putin urging Kyiv and European powers not to derail the 'emerging progress' toward diplomatic resolution. Speaking at a joint press conference at the military base in Anchorage, Putin struck a measured tone, warning that provocations or 'behind-the-scenes intrigues' could sabotage steps taken toward peace. 'We expect that Kyiv and European capitals will perceive all this in a constructive manner,' he said. The summit — the first between the two leaders since Trump's return to the political stage — focused heavily on the war in Ukraine and broader strategic security. Putin asserted that the conflict stems from unresolved 'fundamental threats to Russian security,' insisting any durable solution must address Moscow's concerns. 'We are interested in ending what's happening in Ukraine,' Putin said, 'but for that to happen, the roots of the conflict must be eliminated. That includes restoring a just balance of security in Europe — and worldwide.' He emphasized, however, that Ukraine's security should also be guaranteed, echoing Trump's remarks earlier in the day. Putin proposed holding the next summit in Moscow — a suggestion he delivered in English. Trump, while acknowledging the idea would be politically contentious, left the door open. 'That's an interesting one,' he said. 'I'll get a little heat on that — but I could see it possibly happening.' Putin described the discussions as 'thorough, useful, and mutually respectful,' thanking Trump for hosting the talks and pointing to geographic proximity as a rationale for meeting in Alaska, 'Although separated by oceans, our countries are in fact close neighbors.' Trump praised the tone of the meeting, calling it 'respectful and fantastic,' and lamented that his earlier efforts to work with Moscow were undermined by the 'Russia hoax' — a reference to the investigations into Russian interference in the 2016 election. 'It made it tougher to deal with, but he understood it,' Trump said. Still, the summit ended without any formal agreement or joint communiqué, and the scope of the talks remains largely opaque. Aides to both leaders signaled that discussions touched on nuclear treaties, strategic arms control, and sanctions — though details were sparse.
