Daily Bulletin

Good morning. Reports that Iran struck two commercial vessels transiting the Strait of Hormuz are providing modest support to oil prices this morning, while weighing on technology stocks across Asia and Nasdaq futures. U.S. and European equity futures are also trading in negative territory. Global markets will closely monitor the NATO Summit, which begins today in Ankara. Geopolitical developments, along with any messages following the meeting between U.S. President Trump and President Erdoğan, will remain in focus. On Borsa Istanbul, the BIST 100 Index climbed as high as 14,630 during the first two hours of trading yesterday before retreating to 14,400, ultimately closing the session at 14,424, up just 0.05%. The main positive contributors to the index were BIMAS, THYAO, EREGL, ASELS, and SKBNK, while DSTKF, CCOLA, ENKAI, YKBNK, and SASA weighed on performance. Over the past week, stocks attracting consistent capital inflows have included ASTOR, EREGL, TRALT, TCELL, KCHOL, SASA, GUBRF, and TUPRS. From a technical perspective, 14,470 and 14,630 stand out as key resistance levels, while 14,420 and 14,370 are being monitored as support levels. Meanwhile, MSCI reiterated yesterday that it may conduct company-specific reviews should concerns arise regarding the investability of Turkish equities. The institution had previously announced that it could launch a formal review by November 2026 if the necessary regulatory adjustments are not implemented. We also view Takasbank's 53-page circular published yesterday regarding the implementation principles of TEFAS as part of this ongoing process. On today's economic calendar, domestic markets will focus on Treasury bond auctions and the Treasury's cash budget balance, while the U.S. will release foreign trade data. Finally, Türkiye's five-year CDS premium starts the day at 220 basis points.