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TURKEY: Foreign Participation in Equities Approaches 40%

TURKEY
  • The share of the Borsa Istanbul equity market owned by foreign investors approached 40% as of the end of May, Dunya report. They add that compared to the previous month, the number of domestic investors increased by 1.6% while the number of foreign investors increased by 3.0%. Back in May, the newspaper cited the removal of Turkey from the FATF gray list and improved sovereign ratings as likely drivers of further foreign capital inflow ahead.
  • As a reminder, Bloomberg reported yesterday that Turkey is considering taxing proceeds from investments in stocks and cryptoassets as part of a fiscal tightening push. Stocks and the lira fell on the news. Simsek discussed the plans during a ruling-party meeting over the weekend, emphasising the need for proper taxation of all financial income.
  • There are no major data releases scheduled for today, or for the remainder of the week.

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