There was a total outflow of $460mn from Turkish equity and debt securities markets in the week ending 22 July, following a $1.2bn inflow in the week before the coup attempt, data from the central bank showed on July 28.
Foreign investors offloaded $220.5mn worth of equities last week versus a $374mn inflow in the previous week, while there was an outflow of $240mn from government debt securities that followed an inflow of $812mn in the week ending July 15.
Given the scale of the political turmoil triggered by the coup, last week’s selloff is small, showing foreign investors’ trust in Turkey’s $720bn economy.
Turkey’s markets had a bad week after the coup attempt. But as the government defeated the coup the markets have stabilized.
The main stock exchange index, the BIST-100, fell more than 13% between July 15 and July 21. Stocks, however, have gained 2.1% this week. The benchmark index was up 0.12% on July 28.
The lira fell nearly 6% against the greenback after the putsch. It, however, strengthened almost 1% this week. The local currency was trading at 3.0134 per dollar at 5:20pm local time.
|
NON-RESIDENTS' HOLDINGS OF EQUITY AND GOVERNMENT DOMESTIC DEBT SECURITIES ($ mn) |
|||||||||
|
(Market Value) |
22/07/16 |
15/07/16 |
08/07/16 |
01/07/16 |
24/06/16 |
17/06/16 |
10/06/16 |
03/06/16 |
27/05/16 |
|
STOCK |
|||||||||
|
EQUITY |
37,989.7 |
46,402.3 |
43,644.7 |
43,524.7 |
42,295.1 |
41,802.5 |
43,617.4 |
43,141.5 |
43,456.5 |
|
GDDS |
34,015.3 |
37,721.6 |
37,006.1 |
36,915.7 |
36,156.7 |
35,235.7 |
36,035.1 |
35,302.6 |
35,019.3 |
|
Repo |
3,463.3 |
3,769.8 |
3,953.9 |
3,942.6 |
4,112.5 |
4,018.1 |
4,127.2 |
4,084.2 |
4,061.4 |
|
Private Sector DDS |
958.6 |
1,020.5 |
1,022.6 |
1,023.3 |
994.3 |
980.0 |
992.8 |
968.2 |
952.6 |
|
NET TRANSACTONS (Adjusted for Foreign Exchange and Market Price Effects) |
|||||||||
|
EQUITY |
-220.5 |
374.2 |
-24.1 |
-151.8 |
144.3 |
-188.8 |
58.3 |
-96.2 |
-146.2 |
|
GDDS |
-239.6 |
812.1 |
-104.7 |
470.6 |
65.9 |
-264.6 |
-60.6 |
-50.0 |
0.3 |
|
Repo |
5.7 |
-174.6 |
-2.6 |
-197.8 |
-0.2 |
-54.1 |
-50.2 |
-1.5 |
-175.7 |
|
Private Sector DDS |
-61.9 |
-2.1 |
-0.6 |
29.0 |
14.3 |
-12.8 |
24.5 |
15.7 |
-47.6 |
|
source: tcmb |
|||||||||
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