Net inflow into Turkish stocks $159mn in week ending January 19

Net inflow into Turkish stocks $159mn in week ending January 19
By bne IntelliNews January 26, 2018

Turkish equities experienced a net inflow of $159mn in the week ending January 19, Turkey's central bank said on January 25.

Total inflows into the Istanbul stock exchange amounted to $61mn since the beginning of 2018. The total equities inflow in 2017 topped $3.34bn, in line with the scope of portfolio inflows into the emerging markets universe. Consequently, Bourse Istanbul experienced many all-time highs last year.

The latest central bank data on Turkish government debt securities, meanwhile, showed an outflow of $45mn in the week to January 19.

Total inflows into government debt instruments had amounted to $244mn to date this year. There was an overall inflow of $7.13bn into debt securities in 2017.

The Turkish lira lost 0.04% d/d against the USD to trade at 3.7417 as of 18:00 local time on January 25 while the BIST-100 was down 0.75% to 118,753. The benchmark Istanbul stock market index was up 2.97% on an annual basis.

The central bank also announced on January 25 that its gross foreign exchange reserves rose for the third consecutive week to $89.2bn as of January 19, the highest level seen since December 15, from $87.6bn as of January 12.

Gross FX reserves stood at $92.9bn at end-2015, at $92.05bn by end-2016 and $84.1bn at end-2017.

The latest data also showed the central's bank's gold reserves rose for the sixth consecutive week to $24.8bn as of January 19, a new record high, from $24.5bn as of January 12. The gold reserves stood at $14.05bn at end-2016 and at $23.5bn at end-2017.

Consequently, total gross international reserves, including gold and FX reserves, rose to $113.9bn as of January 19 from $112.1bn as of January 12.

Gross reserves stood at $107.7bn at end-2017. Gross international reserves fell to $106bn by the end of 2016 from $111bn at the end of 2015.

Total FX deposits with Turkish banks rose from $203bn as of January 12 to $205.1bn as of January 19, the central bank data also showed. FX deposits stood at $201.1bn at end-2017.