HSBC: We continue to "increase our presence" in Turkey.

Foreks - HSBC noted that following the detention of Istanbul Mayor Ekrem İmamoğlu, the stock market experienced significant volatility, introducing further uncertainty into the political landscape. The bank expressed that amidst this volatility, they see opportunities emerging.

In their statement, HSBC maintained a positive outlook on Turkish equities, asserting that the greatest risk stems from currency outflows, which continue to exert pressure. Despite short-term challenges, the bank believes that the long-term catalysts for Turkish stocks remain intact. They emphasized that the Central Bank of the Republic of Turkey's primary focus should be on limiting local demand for dollars and preserving currency stability. "If domestic dollarization remains limited, it could signal stable days ahead for Turkish equities," they concluded.