Turkey’s sovereign wealth fund will support equities with a new, internal mechanism established to contain the market fallout from Feb. 6 earthquakes, according to officials with direct knowledge of the matter.
(Bloomberg) —
Turkey’s sovereign wealth fund will support equities with a new, internal mechanism established to contain the market fallout from Feb. 6 earthquakes, according to officials with direct knowledge of the matter.
Turkey Offers Support for Stocks as Trading to Resume Wednesday
The so-called price stability fund will receive capital from state lenders and use the cash to buy stocks at times of volatility, the officials said, asking not to be identified as the decision hasn’t been made public.
The sovereign wealth fund declined to comment.
Turkish authorities are stepping up measures to provide support for equities ahead of a planned resumption of trading on the stock exchange on Wednesday.
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