https://www.ft.com/content/e40e05c6-1a3a-4a2f-82cb-347218b16b38
The government of President Recep Tayyip Erdoğan has ordered private pension funds to boost their holdings of Turkish stocks after a sell-off in the wake of last week’s earthquake prompted authorities to halt trading on Istanbul’s equities bourse.
The decision, announced on Tuesday, comes a day before Istanbul’s stock exchange reopens. It was closed six days ago as traders rushed to sell equities following the devastating earthquake on February 6.
Turkey’s Bist 100 equity index has tumbled 18 per cent this year, in a slide that had started even before last Monday’s earthquake as investors fretted about a tightly contested election scheduled for May.
https://tradingeconomics.com/turkey/stock-market
Private pension funds will be required to allocate 30 per cent of the funds the government contributes to match individual pension contributions to Turkish stocks, said an announcement in the Official Gazette on Tuesday. The previous requirement was 10 per cent.
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