Global markets and Borsa Istanbul rise with the decline in oil prices
New York, European, Asian markets and Borsa Istanbul closed the day in positive territory amid the retreat in oil prices and expectations that inflation can be kept under control.
The decline in oil prices and optimism regarding inflation being kept under control boosted risk appetite in global markets, while the New York, European, and Asian stock exchanges, along with Borsa Istanbul, completed the day with gains.
General Status in Global Markets
The decline in oil prices continues to boost risk appetite in global markets by supporting optimism that inflation can be kept under control. Analysts stated that if energy prices do not rise, the Fed could approach its inflation target more easily.
New York Stock Exchange Closed Higher
While the New York stock market finished the day higher yesterday, the number of initial jobless claims in the US fell to 196,000 in the week ending September 12, remaining below expectations. The Dow Jones index gained 0.61 percent, the S&P 500 index gained 1.14 percent, and the Nasdaq index gained 1.69 percent.
European Stock Markets Followed a Positive Course
European stock exchanges closed the day positively under the influence of optimism that geopolitical tensions could ease and the drop in oil prices. While the Bank of England kept its policy rate steady at 3.75 percent, annual CPI in the Eurozone for August came in slightly below expectations at 3.2 percent.
Asian Stock Exchanges and Central Bank Actions
While Asian stock markets followed a positive course with the drop in energy prices and the recovery in technology stocks, the Bank of Japan raised its policy rate by 25 basis points to 1.25 percent, reaching its highest level in 31 years. Inflation in Japan for August remained slightly below expectations at 1.9 percent.
Borsa Istanbul Completed the Day
While the BIST 100 index on Borsa Istanbul finished the day with a 2.95 percent gain at 13,509.76 points, the US dollar/Turkish lira rate closed the day up 0.2 percent at 48.7330. The CBRT stated that liquidity conditions would be closely monitored, and the CMB decided to suspend and liquidate certain funds.