Turkey’s stock market rebounded sharply upon reopening Wednesday, following a week-long closure in the wake of devastating earthquake that shook the region over a week ago.
The BIST 100 XU100 jumped 9.6% as investors welcomed news that the government was pressing state institutions and private pension funds to increase their holdings of Turkish stocks. Trading on the Istanbul bourse was suspended on February 8th — and trades were cancelled — after the earthquake two days earlier killed many thousands of people across south east Turkey and Syria and left the BIST 100 down 10% from when the tremors hit.
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