Record Stock Volumes in Turkey Are Mostly Thanks to Locals
- Foreign ownership slips below 50% for first time in 16 years
- Some new investors buying stocks touted by social media sites
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Share-trading accounts have blossomed globally during Covid-19 lockdowns as more and more people try to make money from stocks. But in few places has the take-up been as dramatic as in Turkey, where dealing in benchmark Borsa Istanbul 100 Index shares hit record levels on Tuesday.
Activity is up fivefold in a year, a faster increase than the gains across emerging markets, even outstripping booming numbers in Brazil encouraged by interest rates at an all-time low.