Foreign investors set record highs on IMKB in 2007
Posted by meb at January 15th, 2008
Foreign investors in the İstanbul Stock Exchange (İMKB) have broken record highs in total transaction volume and net purchases in the whole of 2007, making $144.2 billion worth of transactions in 2007, which resulted in $4.5 billion in net purchases. According to İMKB data foreign interests purchased $74.3 billion worth of Turkish stocks traded on the İMKB this year, over $69.8 billion in 2006.The volume of total transactions made by foreign investors on the İMKB increased by 62.8 percent last year over 2006 figures while purchases increased by 65.8 percent. The increase in net purchases by foreigners amounted to 296 percent in the same period. In 2006 the total transaction volume was $88.5 billion, of which $44.8 billion was realized in purchasing transactions and $43.7 billion in sales transactions. Net purchases amounted to $1.1 billion in 2006.
Transactions by foreign investors in the İMKB have increased exponentially in the last five years, amounting to $12.9 billion in 2002, $17.3 billion in 2003, $37.4 billion in 2004, $81.2 billion in 2005, $88.5 billion in 2006 and $144.1 billion last year. In all of these years, except for 2002, foreigners ended the year as net purchasers, buying more stocks than they sold. In 2002 foreigners realized $14.9 million in net sales, after which their net purchases stood at $1 billion in 2003, $1.4 billion in 2004, $4.1 billion in 2005, $1.1 billion in 2006 and $4.5 billion in 2007.
During the whole of 2007, the highest transaction volume made by foreign interests was realized in July, with $18.7 billion, and the highest net purchasing transactions occurred in January with $2.04 billion.
In December 2007 the majority of foreign investor activity involved bank stocks, with bank stock sales transactions overtaking purchase transactions.
dource: Today’s Zaman
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