Foreign investors spark Turkish stock rally
Defying expectations, foreign investors buy $705.59 million in Turkish shares in May.
Foreign investors at the Turkish stock market would normally turn to selling in May, but this year they threw a curveball.
Local investors were uneasy at the beginning of May, expecting a significant foreign sell-off. But as locals moved to sell, heeding the pundits’ forecasts of “profit realization,” foreigners took the opportunity to buy, amassing shares worth $705.59 million — their largest monthly buy this year.
