Hsbc Msci Trky Discussion Threads

[jonwig] 02/8/2023 07:12

Turkish equities have posted blistering gains this summer as an economic policy overhaul and fears about a fresh flare-up in inflation draw local savers and foreign investors into the market.

The benchmark Bist 100 index has soared 46 per cent since the end of May. The gauge gained 14 per cent in US dollar terms over that period despite a huge fall in the lira, outpacing a rise of 9 per cent for MSCI’s emerging markets index, FactSet data shows

[jonwig] 28/7/2023 08:48

Steady progress recently. NAVs:

July $2.58
June $2.33
May. $2.26

[jonwig] 07/7/2023 06:15

Foreign investors pile into Turkey’s stock market since election

Overseas buyers scoop up $1bn of equities following Erdoğan’s overhaul of economic team. But lower lira dampens the effect!

[jonwig] 09/6/2023 07:02

FT -

Recep Tayyip Erdoğan has appointed a former US banker as the country’s central bank chief in the latest sign that Turkey’s president may be changing course on his unorthodox policies that have ignited a painful cost of living crisis and sent the lira sinking to record lows against the dollar.
So both CB and Finance is safe hands? Confidence won't return quickly.

[jonwig] 07/6/2023 08:11

This instrument seems to trade quite a bit below NAV. Currently 202p vs. 209p.

[jonwig] 05/6/2023 07:05

More conventional policies forced on Erdogan owing to disappearing foreign reserves.
Could lead to rise in lira without damage to equities. (HTRx is unhedged.)

Nevertheless, very high risk!

[jonwig] 05/6/2023 05:55

3 June 2023 -
Erdoğan signals economic shift for Turkey as he revamps cabinet
President brings back well-regarded finance minister a week after winning second-round of presidential poll


4 June 2023 -
Turkey’s new finance minister pledges return to ‘rational’ economic policy
Mehmet Şimşek signals intention to move away from unorthodox strategy that has fuelled crisis

[jonwig] 05/6/2023 05:49

This is the GBX quote. HTRD is the USD quote.