Foreigners continue buying Turkish assets

Foreigners continue buying Turkish assets

ANKARA
Foreigners continue buying Turkish assets

Foreign investors have continued to add Turkish assets to their portfolios, the latest data from the country’s Central Bank showed on Feb. 7.

Non-resident investors bought $270 million worth of Turkish equities in the week ending Feb. 1, according to the data.

That came on top of the inflows of $322 million and another $322mn into the equities market in the previous two weeks.

In the week ending Jan. 18, foreigners purchased $712 million worth of Turkish equities.

Market value of non-resident investors’ holdings of Turkish equities increased to $35.26 billion as of Feb. 1 from $34.11 billion on Jan. 25.

The market value of non-residents’ holdings of Turkish equities stood at $29.6 billion at the end of 2018.

Non-residents also bought $106 million worth of government debt securities, reversing the trend observed in the previous five weeks.

The Central Bank data showed that foreigners sold a total of $906 million worth of government debt securities between Dec. 28 and Jan. 25.

The bank reported that the market value of foreign investors’ holdings of government debt securities was $19.25 billion as of Feb. 1, up from $18.33 billion on Jan. 25.

Separately, the bank announced that its gross FX reserves increased by $3.6 billion on a weekly basis to reach $77.06 billion as of Feb. 1.

Its gold reserves also increased to $20.6 billion from $19.9 billion on Jan. 25.

Turkish economy, Borsa Istanbul, foreign buyers