The Istanbul Stock Exchange suspends its quotations on a new fall of more than 7%

Posted 8 Feb. 2023 at 15:26

The Istanbul Stock Exchange suspended its quotations early this Wednesday morning, on a fall of 7.09%, which brings the drop in the country’s flagship index, the Bist 100, to 16.2% since Monday morning, i.e. the equivalent of 35 billion dollars, a few hours following the announcement of the two earthquakes which struck Turkey and Syria, with a grim death toll of more than 11,000.

If the decline in the flagship index was limited to 1.4% on Monday, it plunged 8.5% on Tuesday, with a short trading interruption shortly before midday. It was this Wednesday that the Bist 100 fell sharply and immediately as soon as the markets opened. This is the first time that the Istanbul Stock Exchange has suspended trading in 24 years.

Bloomberg

« In times of disaster like these, suspending stock market trading is the best decision to protect investors. “, estimated Haydar Acun, managing partner of Marmara Capital in Istanbul, quoted by the Bloomberg agency. The ban on short selling had, moreover, been decided at the beginning of the week.

It is not known, for the moment, when quotations will resume on the Turkish market.

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