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Taken from the financial times, found here: http://blogs.ft.com/beyond-brics/2010/07/22/turkey-the-record-breaker/
Turkey is trumps with global investors. The Istanbul stock market today hit a new record high, with the Istanbul’s National index briefly trading above 60,000 before closing 0.7 per cent up at 59,919.48.
Only Indonesia among significant world stock markets is also in record territory. A few others, such as South Korea, are at post-crisis peaks but are still well below their pre-2008 levels.
Turkey’s rally is based on sound economic fundamentals but after a 13 per cent gain this year the Istanbul bourse may be taking a well-earned break, especially with the bears now talking of a correction in global markets in the next couple of months.
“Turkey stands out, especially in the [central and east European] region,” Paul Biszko, Turkey specialist at RBC, the Canadian bank, told beyondbrics today. “There is a pessimism about the region but Turkey has proved itself to be structurally sound and this is now being recognised.”
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