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Turkish Stocks Are Both the Best and Worst in World This Quarter

  • Istanbul equities are up 32% in local currency this quarter
  • Turkish stocks attract local and foreign buyers as lira slumps

Turkish stocks rose again, extending this quarter’s rally, as the lira’s weakness sent local investors looking for ways to protect their savings and made equities too cheap to ignore for foreign buyers.

The benchmark Borsa Istanbul 100 Index is up 32% in local currency terms so far this quarter, the best-performer among global equity markets. However, in dollar terms, it’s the worst, down 12%.