Is Istanbul Stock Market closed? Breaking news Borsa Istanbul!
The effect of the Kahramanmaraş and Gaziantep-based earthquakes is continuing. While up-to-date information on the loss of life and the extent of damage continues to come, transactions were canceled at Borsa Istanbul, which lost a total of 16.2 percent in value due to the earthquake. After the fall, the temporary closure of the stock market for transactions came to the agenda. Here is the latest situation at Borsa Istanbul and the opening date of the stock exchange…
Following the shocking earthquakes experienced, Borsa Istanbul, which lost a total of 16.2 percent in three days after its disaster, was closed for 5 business days. It was decided to cancel all the operations performed on February 8, 2023. After the earthquake on August 17, 1999, the stock market was closed for trading for 7 days. After the earthquakes, BIST 100 experienced a decline of 9.8 percent in 2 days.
AN EXPLANATION CAME FROM BORSA ISTANBUL
Istanbul Stock Exchange A.Sh.the statement made from the Public Disclosure Platform (KAP) is as follows:
“In order to ensure the reliable, transparent, effective, stable, fair and competitive functioning of our Stock Exchange Markets due to the increase in volatility and unusual price movements experienced after the earthquake disaster, it is decided to close share market and the share of the derivatives market index futures and options market as of 11:00 AM on February 8, 2023 for a period of 5 days Also, in consideration of the regulation “on the orders and the cancellation of transactions by exchange entitled” 33 paragraph 1-C all transactions on February 8, 2023 are cancelled.
OPERATIONS WERE STOPPED ON DAY 3 OF THE DISASTER
After the severe setback, some investors requested the closure of transactions at Borsa Istanbul, considering the magnitude of the disaster. Yesterday (day 3 of disaster), Borsa Istanbul announced that trading in the share market had been stopped after a drop of more than 7 percent in the morning.
Thus, after the loss of 16.2 percent, the decision to close the stock market came. Borsa Istanbul later announced that the transactions would be closed for 5 business days.
SOURCE: haberturk.com/borsa-kapandi-mi-bist-100-ile-borsa-istanbul-da-son-durum-borsa-kac-gun-kapali-kalacak-ne-zaman-acilacak-3563975/3 (translated)
