Turkey Stock Optimism Brushed Aside as Bearish Bets Reach Record
- Short interest at a high with Istanbul close to a bull market
- U.S.-traded ETF saw outflows also at record pace in first half
A visitor is reflected while crossing the trading floor at the Borsa Istanbul SA stock exchange in Istanbul, Turkey.
Photographer: Ismail Ferdous/BloombergThis article is for subscribers only.
With Turkey near its second bull market this year the recent market optimism hasn’t been enough to deter bearish bets on the nation’s stocks, which have reached a record high.
Short interest as a percentage of shares outstanding in the New York-traded iShares MSCI Turkey exchange-traded fund soared to the highest level since at least 2008 on Monday, IHS Markit Ltd. data showed. Shares out on loan are also hovering near a record 3.7 million.