Turkish Stocks Snap Longest Rally in Two Months on China Rates
This article is for subscribers only.
Turkish stocks dropped, snapping the longest winning streak in more than two months, as China’s interest-rate increase spurred concern policy makers may speed up measures to slow the economy. Bonds and the lira fell.
The ISE National Index lost 0.5 percent to 65,913.38 at 1:22 p.m. in Istanbul, after gaining for four days. The gauge has rallied 25 percent this year. Yields on two-year benchmark bonds rose 2 basis points to 7.28 percent in Istanbul, according to an ABN Amro index. The lira weakened for a second day against the dollar.