September 13, 2023 10:12 GMT
Turkish Equities Partially Pare Recent Losses
- Turkish equities have partially pared some of their recent losses, though the major benchmarks remain within yesterday’s ranges. The banking sub-index is up 1.75% today and outperforming the main Borsa Istanbul index – which is up a more muted 0.50%.
- As we noted yesterday (click here to see more), some experts expect profit taking behaviour to continue through September with the index still within relatively close proximity of its all-time highs.
- Elsewhere, yields on Turkey’s USD bonds are up 2-4bps across the curve but within the month's ranges. Meanwhile, USDTRY is trading steadily higher for the ninth consecutive session. The pair is up 0.10% on the day and has pared the majority of the Aug 24 downturn over the past few weeks.