Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
The Mujahideen Movement: The two were killed along with dozens of others from their family in a cowardly Zionist assassination that targeted the Sabra neighborhood today
The Palestinian Mujahideen Movement mourns the martyrdom of its Secretary-General, Asaad Attiya Abu Sharia "Abu Al-Sheikh", along with his brother Ahmad
Abu Zaid: I believe that the Iranian operation was multi-layered, combining cyber and electronic attacks with coordinated on-the-ground infiltrations by agents
Abu Zaid: Usually, archives of such sensitivity are typically protected by a full-scale security system, but it appears that Iranian intelligence managed to make use of a gap in it
Strategic military expert Nidal Abu Zaid: Iran has stripped "Israel" of the superiority and deterrence long boasted by its security minister, chief of staff, and other top officials
Fallahpour: Iran may use these documents in its battle with the United States and Western countries over its nuclear program
Fallahpour: Iran may have obtained additional documents related to "Israel's" regional projects, not just its nuclear program
Fallahpour: The coming weeks will be full of surprises, as Iran has forced Israeli intelligence agencies into a state of psychological exhaustion
Al Mayadeen's correspondent in Tehran, Siavash Fallahpour: Iran has redefined the concept of deterrence, shifting it away from traditional military balance toward a new strategic framework
Sources to Al Mayadeen: Number of documents so great that merely studying them, along with accompanying images and footage will require a great deal of time.

Turkish stocks rebound amid Imamoglu’s arrest, short-selling ban

  • By Al Mayadeen English
  • Source: Agencies
  • 24 Mar 2025 14:24
3 Min Read

Following last week's plunge, Turkish stock markets have seen a slight improvement following a short-selling ban imposed to maintain financial stability.

Listen
  • x
  • A protester holds up a Turkish flag during a protest against the arrest of Istanbul's Mayor Ekrem Imamoglu, in Istanbul, Turkey, Saturday, March 22, 2025. (AP)
    A protester holds up a Turkish flag during a protest against the arrest of Istanbul's Mayor Ekrem Imamoglu, in Istanbul, Turkey, Saturday, March 22, 2025. (AP)

Turkish stocks rose 3.1% on Monday, recovering some of last week’s steep losses, as the capital markets board imposed a short-selling ban amid rising political tensions following the arrest of Istanbul Mayor Ekrem Imamoglu.

The Borsa Istanbul benchmark index (.XU100) had plummeted 16.6% last week—its worst drop since the 2008 financial crisis—while the banking sub-index (.XBANK) had fallen over 26%. By 08:56 GMT on Monday, the banking sector had gained 3.23%.

A Turkish court on Sunday ordered Imamoglu, President Tayyip Erdogan’s main political rival, to be jailed pending trial on corruption charges. The move triggered the country’s largest protests in more than a decade and drew condemnation from the opposition, European leaders, and hundreds of thousands of demonstrators who view the charges as politically motivated.

The move comes as Imamoglu faces allegations of involvement with a network accused of corruption, bribery, and assisting terrorism. Although a court declined to approve a terrorism-related arrest request, the Istanbul Chief Public Prosecutor's Office plans to challenge that ruling. The final say now rests with the Constitutional Court, local media outlet Sabah reported.

Imamoglu’s detention last Wednesday sent markets into turmoil, causing sharp declines in the lira, stocks, and bonds. Analysts warn of prolonged instability.

Related News

Turkey to supply Somalia’s military with combat helicopters: Bloomberg

Crackdown deepens as Turkey targets opposition leader Ozgur Ozel

“The protests mark the most significant and widespread public reaction in over a decade, making the trajectory of events difficult to predict,” said Wolfango Piccoli of Teneo. “Once again, President Erdogan’s political agenda has inflicted serious damage on Turkey’s economic outlook.”

Attempts to maintain financial stability 

In response to market volatility, the capital markets board banned short selling on the Istanbul bourse and eased share buyback limitations and equity ratio requirements until April 25.

Meanwhile, the Turkish lira remained largely unchanged, trading at 37.9550 against the US dollar, compared to Friday’s close of 37.9500. The currency had already fallen 3.5% last week.

The central bank met with banking executives on Sunday, reaffirming its commitment to using “all instruments effectively and decisively” to maintain financial stability.

Turkiye's Central Bank has sold an estimated $26 billion in foreign currency reserves over just three days this week in a bid to stabilize the rapidly falling lira, according to a report by Haberturk on Saturday.

According to Haberturk, roughly $12 billion was injected into the market on Wednesday, with an additional $14 billion sold across Thursday and Friday. The lira nosedived after reports emerged of Imamoglu's detention on fraud and terrorism charges, shaking investor confidence and triggering the currency's sharp drop which breached the 41 mark against the US dollar.

Read more: 'Never lose hope', Istanbul mayor tells supporters amid arrest

  • Turkey
  • Ekrem Imamoglu
  • Recep Tayyip Erdogan
  • Istanbul
  • Turkiye

Most Read

Lebanon's PM Nawaf Salam meets with US envoy Morgan Ortagus in Beirut on April 5, 2025 (Dalati Nohra via AP)AP)

Morgan Ortagus to exit US role in Lebanon amid policy shift

  • Politics
  • 1 Jun 2025
A Palestinian woman mourns as she embraces the body of her daughter Mayar Abu Odeh, 8, who was killed in an Israeli army strike on Gaza. at Al-Shifa Hospital in Gaza City, Wednesday, June 4, 2025. (AP)

French port workers block arms shipment to 'Israel' amid Gaza genocide

  • Politics
  • 4 Jun 2025
The logo of the Iranian Ministry of Intelligence (wikidata)

Iran acquired thousands of sensitive Israeli documents: Exclusive

  • Politics
  • 7 Jun 2025
New Syrian group claims Golan strike, vows resistance to 'Israel'

New Syrian group claims Golan strike, vows resistance to 'Israel'

  • Politics
  • 4 Jun 2025

Coverage

All
War on Gaza

Read Next

All
https://english.almayadeen.net/news/politics/pentagon-chief--nato-likely-to-back-trump-s-5--defence-spend
Politics

Europe spent $3 trillion on defense, but got little in return - FT

Power, parties, and scandal: Trump’s ties to Epstein: Telegraph
Europe

Power, parties, and scandal: Trump’s ties to Epstein - The Telegraph

Eilat port as seen from the sea, occupied Palestine, March 12 2009 (wikimedia commons)
Politics

YAF operations forced 80% plunge in Eilat port revenues in 2024

EU backs International Criminal Court after US sanctions judges
Europe

EU backs International Criminal Court after US sanctions judges

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS