Turkey Stock Investors Say Rally Not Over, It’s Just Slowing
- Istanbul stocks still trading at discount to emerging markets
- Erdogan’s remarks on higher rates worry some investors
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Even after their stellar rally, Turkish stocks have plenty of room to extend their gains, say investors and strategists. The rate of ascent may just be slower.
Following the longest winning streak in 11 years, last week’s 1.5% retreat in the benchmark Borsa Istanbul 100 Index was tipped by some as the start of a pull back. In fact, investors should seize on dips like those as buying opportunities, said Semih Kara, chief investment officer at Istanbul-based money manager Tacirler Portfoy.