Turkey Short-Selling Ban Is Blow to Bank Stocks’ Trading Volume
- Borsa Istanbul Banks Index’s volume fell to four-month low
- Turkish regulators moved to limit losses on financial markets
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Turkey’s moves to protect and buoy its banking shares has triggered a slump in trading volume.
The number of shares exchanged on a banking gauge on Wednesday sank to 179.7 million, or about 66% lower than the 20-day average, after Turkish regulatory decisions included a short-selling ban on seven lenders and a depository rule that made it harder to sell the stocks. The moves are an attempt to limit the impact from the U.S. indictment of the state-owned Halkbank.