Daily Bulletin
Tacirler Investment
Good morning. An earthquake in the U.S., followed by a later-retracted tsunami warning, has led to limited selling pressure in markets, with futures flat this morning. Europe shows weakness, while Asia presents a mixed outlook. Domestically, two key developments stand out: short selling for BIST 50 companies will be allowed as of January 2, 2025, and banks along with some financial institutions will not apply inflation accounting in 2025. Since both were anticipated, significant market impacts are unlikely; however, lifting the short selling restriction may boost foreign investor interest in Borsa Istanbul, potentially providing a short-term positive effect. Technically, staying above the 9,750 resistance level keeps the 10,500 target from the ongoing flag formation intact, with 9,950–10,000 and 10,200 as intermediate resistance points. Domestically, the agenda is quiet today, while European growth data and key U.S. indicators—non-farm payrolls, unemployment rate, and average hourly earnings—will be closely watched. Turkey’s 5-year CDS premiums start at 253 basis points.