Istanbul Stock Exchange Closed for First Time in 24 Years after Earthquake in Turkiye

Stock Exchange

NewsToday: For the first time in the past 24 years, the Istanbul Stock Exchange to shut for 5 days due to the economic downturn caused by Turkey's earthquake calamity. According to a statement from the Istanbul Stock Exchange, the decision to halt the stock exchange was made as a result of business turbulence and anomalous price changes following the earthquake in Turkey. The statement added that significant losses had been seen before the announcement of the company's closure due to the sharp decline in transactions. All trades made as a result of the closure starting on February 8 will be regarded as canceled, and the closure will last until the evening of Feb. 14.

In response to the Istanbul Stock Exchange's declaration, Turkish opposition lawmaker Murat Bank stated that it is not sufficient for the stock exchange to merely announce a business closure; instead, it should halt all trading activities that have taken place since the earthquake. He tweeted and added that the stock exchange's action would safeguard the capital of much more than 5 lakh stockholders who perished in the rubble or were still in need of assistance at the time and had access to the Internet.

Sabahat Abid


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