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Turkey Bans Short-Selling in Top Banks as U.S. Indicts Halkbank

  • Borsa Istanbul Banks Index trims losses from 4.1% to 1.8%
  • Ban makes selling bank shares extremely difficult, trader says
A Turkiye Halk Bankasi branch in Istanbul.

A Turkiye Halk Bankasi branch in Istanbul.

Photographer: Nicole Tung/Bloomberg
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Turkey’s market regulators suspended short-selling in seven banks including Turkiye Halk Bankasi AS and ordered brokers not to execute orders unless a client has the respective shares in his account. Traders say the moves make it hard to sell shares in the country’s largest banks.