HSBC Asset Management suspended trading on its Turkey ETF in the primary market following an earthquake in the region that has left the Istanbul stock market temporarily closed.
The Borsa Istanbul closed yesterday (8 February) for the first time in 24 years, after the index fell 7.1% in the morning, having now fallen 16% since the earthquake struck. The stock market will remain shut for five business days, with plans to reopen on 15 February. The earthquake, which is estimated to have caused more than 14,000 deaths in Turkey and over $1bn of damage, hit the country along with neighbouring Syria on 7 February. Top performing funds fail to repeat success In a stock market notice yesterday, HSBC ETFs said that a notice had been issued to shareholders s...
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