Losses on Borsa Istanbul's BIST 100 Index Exceed 6 Percent
Following deep declines in the BIST 100 index, the circuit breaker system was triggered, while experts warned investors against uncertainties in the fund market.
As losses on Borsa Istanbul's BIST 100 index exceeded 6 percent, the Index-Based Circuit Breaker System was activated and trading was temporarily halted.
Circuit Breaker System Activated
The official statement regarding the activation of Borsa Istanbul's Index-Based Circuit Breaker System was published on the Public Disclosure Platform (KAP). Following the declines exceeding 6 percent in the BIST 100 index, the stock exchange management announced that trading was temporarily suspended.
Uncertainty Process in the Fund Market
Following the developments, Economist Üzeyir Doğan stated that developments in the fund market directly affect the market process. Doğan stated that the troubles experienced by a portfolio management company and the default of certain funds showed a contagion effect.
Panic Atmosphere and Investor Warnings
Stating that the circuit breaker was activated for the first time in a long time in the index, Üzeyir Doğan emphasized that the panic atmosphere may continue until an official statement eliminating the uncertainty arrives. The expert noted that investors should not make decisions in moments of panic.
Upcoming Schedule
Stating that staying in cash could be beneficial for investors, experts importantly reminded that the compliance processes in October and November, as well as MSCI evaluations, should be closely monitored.