Foreigners sell record $893 million of Turkish stocks
Foreign investors sold a record $893 million worth of Turkish stocks last month, Dünya newspaper reported citing data published by the Istanbul Stock Exchange.
Trading by foreigners on the exchange also reached an all-time monthly high of $39.1 billion in July, Dünya said.
Investors have sold Turkish stocks and bonds this year after the central bank slashed the benchmark interest rate to below the rate of inflation and President Recep Tayyip Erdoğan became embroiled in political spats with Turkey’s neighbours over the conflict in Libya and mineral exploration rights in the Mediterranean.
Foreigners sold a net $5.1 billion of shares in the first seven months of the year, Dünya said. Trading comprised $95.5 billion of purchases and $100.7 billion of sales, it said.
The amount of Turkish stocks owned by foreigners has fallen to below 50 percent of their total value for the first time in more than a decade and a half, according to official data.