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Turkey reportedly orders liquidation of 130 funds

One post says authorities froze funds run by seven asset managers and referred 38 people to prosecutors over suspected market manipulation.

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2 Sources, 12d ago, first seen 12d ago

TLDR

A September 19, 2026 post says Turkish authorities froze funds run by seven asset managers, ordered 130 funds liquidated and referred 38 people to prosecutors over suspected market manipulation. A separate account says Turkey’s Financial Stability Committee attributed the volatility on September 17 to credit and liquidity problems within specific funds, while maintaining there were “no fundamental or structural risks” to capital markets.

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2 Sources, first seen 12d ago

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Combined views

305.4K

2 Sources, first seen 12d ago

3.7K likes132 comments258 saves527 reposts

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2 Sources

@steve_hanke#TurkeyWatch🇹🇷: Turkey’s stock-market scandal continues to unravel. Authorities have frozen funds run by 7 asset managers, ordered 130 funds liquidated, and referred 38 people to prosecutors over suspected market manipulation. Turkey's periodic scandals are as common as a beautiful sunset on the Bosporus. Stay tuned.
@TheWorldCorrespOn September 17, Turkey’s Financial Stability Committee confirmed that the market volatility stemmed from credit and liquidity issues within specific funds managed by a handful of asset management companies, though it emphasized that there were "no fundamental or structural risks" to the capital markets. That same day, regulators suspended all funds traded on the electronic fund trading platform managed by seven asset management companies and initiated the liquidation of 130 of these funds. Understanding the Nature of These Two Measures While describing them as the "simultaneous use of two tools" is roughly accurate in terms of timing (they occurred just one day apart), logically, they represent a progressive response to a single crisis rather than two independent strategic instruments. The central bank provided liquidity support (via foreign exchange and lira repo operations) aimed at preventing a chain reaction affecting the lira and the banking system. The Wealth Fund provided direct market support, aiming to generate buying interest in blue-chip stocks—where selling pressure was most concentrated—and thereby break the "redemption-sell-off-price-drop" cycle. In the new medium-term plan released on September 6, Turkish Vice President Cevdet Yılmaz significantly raised the 2026 inflation forecast from 16% to 28.4%, lowered the economic growth target from 3.8% to 3.3%, and reduced the tourism revenue projection from $68 billion to $65 billion. An analysis by JPMorgan in July noted that rising energy prices resulting from the Middle East conflict had pushed Turkey's projected current account deficit to $48 billion, with the budget deficit rising to 4% of GDP. #Turkey #TCMB #TurkishWealthFund #CurrencyCrisis #BorsaIstanbul #TheWorldCorrespondent
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    2 Sources

    @steve_hanke#TurkeyWatch🇹🇷: Turkey’s stock-market scandal continues to unravel. Authorities have frozen funds run by 7 asset managers, ordered 130 funds liquidated, and referred 38 people to prosecutors over suspected market manipulation. Turkey's periodic scandals are as common as a beautiful sunset on the Bosporus. Stay tuned.
    @TheWorldCorrespOn September 17, Turkey’s Financial Stability Committee confirmed that the market volatility stemmed from credit and liquidity issues within specific funds managed by a handful of asset management companies, though it emphasized that there were "no fundamental or structural risks" to the capital markets. That same day, regulators suspended all funds traded on the electronic fund trading platform managed by seven asset management companies and initiated the liquidation of 130 of these funds. Understanding the Nature of These Two Measures While describing them as the "simultaneous use of two tools" is roughly accurate in terms of timing (they occurred just one day apart), logically, they represent a progressive response to a single crisis rather than two independent strategic instruments. The central bank provided liquidity support (via foreign exchange and lira repo operations) aimed at preventing a chain reaction affecting the lira and the banking system. The Wealth Fund provided direct market support, aiming to generate buying interest in blue-chip stocks—where selling pressure was most concentrated—and thereby break the "redemption-sell-off-price-drop" cycle. In the new medium-term plan released on September 6, Turkish Vice President Cevdet Yılmaz significantly raised the 2026 inflation forecast from 16% to 28.4%, lowered the economic growth target from 3.8% to 3.3%, and reduced the tourism revenue projection from $68 billion to $65 billion. An analysis by JPMorgan in July noted that rising energy prices resulting from the Middle East conflict had pushed Turkey's projected current account deficit to $48 billion, with the budget deficit rising to 4% of GDP. #Turkey #TCMB #TurkishWealthFund #CurrencyCrisis #BorsaIstanbul #TheWorldCorrespondent
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