ExchangeNew week, the Central Bank of the Republic of Turkey (CBRT) changes its presidency after the tough decision in the field.
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The BIST 100 index started the day at 1,427 points down 6.65 percent. At the open, the bank index fell by more than 8 percent.
Transactions were temporarily suspended as the decline exceeded 5 percent.
In the statement made by Borsa Istanbul, it was stated that “The Index Linked Circuit Breaker System has been put into operation. Transactions in contracts based on shares and stock indices traded on VIOP have been temporarily suspended in all ranges of the Market of Variable Income “.
Trading in the index resumed after the breakout. But with the 7 percent drop second circuit breaker system activated. In the statement made by the stock exchange, “The Index-Linked Circuit Breaker System has been put into operation as of 10:38:20. In the Equity Market, the collection of single price orders will be made at 10:58:20 and at 11:08:20 for the shares in which the single price trading method is applied. The session will continue from where it left off, “he told himself.
After the second half-hour break, operations resumed at 11:08. After the third start, losses at BIST 100 increased more than 9 percent.
The index fell to 1,378 points, losing 9.82 percent in the second half of the day.
İSTANBUL BORSA ADVISORY TO INVESTMENT INSTITUTIONS AND INVESTORS
Borsa İstanbul AŞ warned investment institutions and investors to show the necessary sensitivity regarding compliance with the legislation, saying: “Otherwise, all necessary measures will be taken against transactions that do not comply with the regulations of the Board of Capital Markets and our Stock Exchange, especially illegal short selling transactions, and inspection and auditing activities will be meticulously executed. Business to be done is respectfully announced to the public. “
The experts of the Central Bank of Turkey (CBT) said that the increase in volatility in the markets after the changes made in the Presidency, investors must remain calm and the price informed in a short time to find a new level of equilibrium.
The evolution of the epidemic of the new type of coronavirus (Covid-19) in global markets, the course of the bond market, the speeches of the president of the US Federal Reserve (Fed) Jerome Powell and the experts who broadcast that the will follow the data calendar that will intensify from tomorrow, and the statements of the economic and political management said that the evolution would be followed.
This week, President Erdogan’s statements at the AK Party’s Seventh Ordinary Grand Congress and the action program that Finance and Finance Minister Lütfi Elvan will share on the Economic Reform Package will also be in the focus of investors.