Türkiye intends to stop sales of sales at the open at the end of this month

Turkish officials intend to allow the ban on operating sales, which has been applied since March at the end of this month in an effort to improve the attractiveness of the stock market for foreign investors, according to people familiar with the case. The high share index recently spoke at a record level and the resumption of the central bank to reduce interest rates from other reasons for the decision, according to two people familiar with ‘Bloomberg’ on Monday, on condition that their identity was not disclosed due to the ongoing discussions. The Turkish Capital Markets Authority refused to comment on the talks. The seriousness of the Turkish stock market expanded the authorities in March, sale on the Open Open to limit the weakening of the market to the arrest of Istanbul’s Mayor Akram Imamoglu on corruption charges, in a move that led to the status of the most prominent political opponent of the President Recep Perdogan behind Bars. It is scheduled to end the application of the sales ban on August 29 after extending the work three times. Also read: Turkey stocks contain the highest closure ever optimistic about reducing interest. The lifting of the ban is expected to increase the amount of trading and the depth of the stock market, and they will increase their attraction among foreign investors at the same time, and the organizational authority is also expected to make the end of the work with other measures, including relieving the rules for the reconstruction of shares, according to the informed. The ‘Istanbul 100 Stock Exchange’ index, the main stock index in Türkiye, rose by 0.8% at 12:56 p.m. on Monday and is expected to be closed on a new record. The index rose 17% this year when it was evaluated in Turkish lira. Turkey terminates the deposit protection program, the total number of Turkish shares owned by foreign investors, is 33.7 billion dollars on August 15, according to the “Bloomberg” data, and represent about 40% of total ownership in the stock market, according to the data of conservative secretaries, compared to a historical average of 60%. The decision to allow the end of the ban to the end of a crisis -era deposits, launched at the end of 2021 to provide a guarantee supported by the government to savers against the decline of the currency. The end of the work of such measures is one of the goals that Treasury and Finance Minister Mohamed Shimakk is periodic. It is noteworthy that the sale of shares on the open is a process in which investors bet on the decline in stock prices, so that the seller borrows on the open shares and sells it in the hope of the low price, and if that happens, then the seller returns the open shares at the new prices in the market, makes it back and makes them profit from the price difference.