Foreigners buy $48.9 bln of Turkish stocks
Posted by meb at June 16th, 2007
The İstanbul Stock Exchange (İMKB) is becoming increasingly attractive for global investors, with their share of total transactions in the exchange expanding from the year-end level of 38.5 percent in 2006 to 44.8 percent as of the first five months of 2007. Analysts are expecting the interest to grow further, notwithstanding possible difficulties that may occur depending on political developments. Foreign investors made $48.9 billion worth of transactions from January to May, resulting in a net $3.6 billion in purchases in the first five months of the year. They bought $26.3 billion worth of stock and sold $22.7 billion in this period. The total trade volume on the stock exchange for the given period was $109.3 billion.
The financial sector was shown the most interest with foreigner investors favoring Garanti Bank’s shares in May, buying $3.2 million. They paid $186.3 million for İş Bank shares and $30.6 million for those of Akbank. The next highest traded stocks were those of Sabancı Holding, Migros, Petkim, Koç Holding and Doğan Holding.
source: Today’s Zaman
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