|Bid||24.35 x 1800|
|Ask||24.68 x 800|
|Day's Range||24.15 - 24.78|
|52 Week Range||20.13 - 29.10|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-0.33%|
|Beta (3Y Monthly)||1.36|
|Expense Ratio (net)||0.59%|
Trump has said on Twitter that he could ruin Turkey’s economy. But Turkey’s military activities in Syria took a fresh bite out of the country’s assets.
The Turkey country-specific ETF jumped Thursday after Ankara agreed on a ceasefire in northern Syria to allow Kurdish forces to retreat from the region. "Today the United States and Turkey have agreed to a ceasefire in Syria," US Vice-President Mike Pence told a news conference after more than four hours of talks at the presidential palace in Ankara, Reuters reports.
A popular exchange traded fund Thursday afternoon added to its gains after Vice President Mike Pence said the U.S. and Turkey have agreed on a ceasefire in Syria. Speaking from Ankara, Pence said the ceasefire would last 120 hours and allow Kurdish fighters to withdraw from a safe-zone area. The iShares MSCI Turkey ETF gained nearly 4.1% Thursday afternoon in New York. Thursday's advance helped to push the Turkey-specific ETF, which gives investors exposure to the country's stock market, in to the green, producing a 0.6% weekly gain. Meanwhile, the Turkish lira rose 1.1% against the buck. A dollar last bought 5.8268 lira, according to FactSet data.
Vice President Mike Pence said Thursday the U.S. and Turkey have agreed on a ceasefire in Syria. Pence and Secretary of State Mike Pompeo met with Turkish President Recep Tayyip Erdogan earlier in the day. Pence said in Ankara that the ceasefire would last 120 hours and allow Kurdish fighters to withdraw from a safe zone area. The iShares MSCI Turkey ETF rose more than 3% after Pence's announcement.
Investing.com – Turkish assets rose Thursday after Turkish President Recep Tayyip Erdogan agreed to a five-day ceasefire in Syria following a meeting with U.S. Vice President Mike Pence and Secretary of State Mike Pompeo.
Amid fresh U.S. sanctions, the iShares MSCI Turkey ETF (NASDAQ: TUR) is in the spotlight again and not in a good way. On Monday, President Trump ordered a 50% tariff on Turkish steel imports to the U.S. while halting trade talks with the country. The $326.4 million TUR, which tracks the MSCI Turkey IMI 25/50 Index, is levered to that harsh move against Turkey's steelmakers because the fund devotes about a third of its weight to the industrial and materials sectors.
Investing.com – The lira and Turkish assets tumbled Friday after U.S. Treasury Secretary Mnuchin said U.S. President Donald Trump had authorized the Treasury Department to draw “very significant” new sanctions on Turkey
Turkey country-specific ETF could continue to weaken as the country’s military actions into Syria persist if U.S. congressional leaders enact sanctions that would further weaken the lira currency and drag on the developing economy.
Turkey country-specific ETF could continue to weaken as the country's military actions into Syria persist if U.S. congressional leaders enact sanctions that would further weaken the lira currency and drag on the developing economy. The iShares MSCI Turkey ETF (TUR) was flat Thursday after breaking below its long-term support at the 200-day simple moving average in the previous session. The lira currency, which previously suffered through a crisis a year ago partly as a result of U.S. sanctions and tariffs, dipped to its weakest level in almost four months after Ankara ordered attacks on Kurdish forces in northeast Syria, Reuters reports.
Since Monday’s trading session, the iShares MSCI Turkey ETF (TUR) has fallen 7% as the country begins to mobilize its armed forces in preparation for a military operation in Northern Syria. “Turkish Armed Forces together with the Syrian National Army against PKK / YPG and Deash terrorist organizations in northern Syria has started,” Erdogan wrote on Twitter. “Our aim is to destroy the terror corridor which is trying to be established on our southern border and to bring peace and peace to the region,” Erdogan tweeted.
President Donald Trump on Wednesday said the U.S. did not endorse Turkey's military operation in northern Syria, a move he called a "bad idea." Trump's decision to withdraw U.S. troops from Syria has been met with bipartisan criticism. The president threatened Monday to "totally destroy and obliterate" Turkey's economy if it took what he considered to be "off limits" actions. The iShares MSCI Turkey ETF was down 2.55%, following the beginning of the Turkish military offensive.
A Turkey-focused exchange-traded fund was trading sharply lower Wednesday as Turkish President Recep Tayyip Erdogan kicked off a military offensive in Syria. The iShares MSCI Turkey ETF was down 1.8% in Wednesday trading and was on track to decline for three consecutive sessions, which would mark its longest losing skid since the five-session period ended Aug. 22, according to FactSet data. Turkey had long threatened an attack on the Kurdish fighters whom Ankara considers to terrorists.President Donald Trump agreed to withdraw U.S. troops from Syria and hand control to Turkey, leaving Syrian Kurds who helped the U.S. in a fight against Islamic State, vulnerable to Turkish attack. Meanwhile, Turkey's lira was down 0.5% against the U.S. dollar. The dollar last bought 5.8562, compared with 5.8317 lira late Tuesday in New York. --with Associated Press
The Turkey country-specific ETF plummeted Monday after Ankara announced an “air and ground military operation” into Syria and President Donald Trump threatened to “totally destroy and obliterate” Turkey’s economy if it took action considered to be “off-limits.”
President Recep Tayyip Erdogan has said Turkey will undergo an "air and ground military operation" east of the Euphrates River, Aljazeera reports. The operation aims to clear what Turkey considers "terrorists" from the border region.
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A Turkey country-specific exchange traded fund surged on huge volumes Friday as the emerging market gained renewed interest from international buyers and rallied on optimism over bank reforms. A bank analyst told Reuters that two funds bought large positions in the Turkish financial sector but did not identify them, adding that the decline interest rates contributed to the optimism. Turkey's lira currency also strengthened on signs that the central bank front-loaded interest rate cuts and that tensions with Washington were easing, Reuters reports.
The Next 11 or N-11–sounds like a science fiction movie sequel or a bigger-than-necessary boy band, but in fact, it represents the next 11 emerging economies dubbed by global investment firm Goldman Sachs. ...
For a few days there, it looked like Argentina might start a trend toward emerging market financial meltdowns. Turkey’s currency, the lira, plunged 3% against the dollar on Aug. 19 and 20. “I would strongly emphasize that the best of Turkey’s recovery is over,” says Aaron Hurd, senior currency portfolio manager at State Street Global Advisors.
Spanish, Portuguese Bonds Near 0% Yield Inverted yield curves, record amounts of debt yielding negative rates, and countries only a few years ago on the verge of bankruptcy yielding next to nothing. These are the signs of the beginning of a possible manic bubble phase of a nearly 40 year bond bull market now in […]The post Market Morning: Bond Bubble Reaches New Heights, Turkey Jails Mayors, Iran US Tanker Face Off, appeared first on Market Exclusive.
President Tayyip Erdogan did no favors for Turkey investors after canning the country’s central bank chief over the weekend in order to install his own deputy as a replacement. The latest move sent the country's stock market index down 1% and its local currency, the lira, down 1.5%. “I wouldn’t say it’s a complete shock but it is definitely a surprise because it looked like the central bank was already on its way to cutting rates,” said Pictet Asset Management portfolio manager Guido Chamorro.