(Bloomberg) An exchange-traded fund (ETF) comprising of Turkish stocks posted its biggest daily inflow in over three years last week.
The $354 million iShares MSCI ETF also referred to as TUR, got $25 million on Dec.20, the most inflow for any day since August 2018.
Meanwhile, analysts have mixed feelings on whether investors see opportunity after the currency’s recent plunge or whether brokers are developing the fund for investors who want to best against Turkish stocks by selling it short.
Athanasios Psarofagis, an ETF analyst with Bloomberg Intelligence, stated that the market could have got a small bounce, and people are bottom fishing seeking to catch the upswing.
TUR’s stock price rose after the government’s announcement on the lira. The currency has plunged more than 20% against the dollar since September after the central bank started cutting borrowing costs.
TUR up +3.92%.
