3 Days
Source:
Sky News
Turkish stocks fall after fund setbacks
The Turkish market is facing a severe financial crisis following the failure of two funds operated by TERA Asset Management, with a total value reaching 366 billion Turkish Lira (equivalent to $7.5 billion), due to their inability to meet investors' withdrawal demands. This situation coincides with a market downturn that has been worsened by the announcement of issues in fund redemption by other companies such as Busula and Atlas, raising fears of the crisis spreading and risks of liquidity withdrawals from investment funds in Turkey. The crises have led to a 7.7% drop in the Istanbul Stock Exchange index in a single day, triggering a temporary trading halt, amid rising concerns over market stability and increasing liquidity pressures. The government is actively working to stabilize the financial situation and regulate the investment fund sector.
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