Borsa Istanbul introduces index-based circuit breaker

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Borsa Istanbul has introduced an index-based circuit break function for the first time.

Trading in the benchmark index BIST 100 will be halted up to 20 minutes when stocks dive 5-7 percent below the previous close suddenly as of Aug. 10, according to a statement.

After a 20-minute circuit breaker stop, orders will be collected in the following five minutes.

Borsa Istanbul had put a stock-based circuit breaker system into effect in 2015, replacing another system halting a session completely.

The benchmark stock index closed last week at 1,060.59 points on Aug. 7, up 2.53 percent from the previous close.
The BIST 100 hovered between 985.38 and 1,062.07 points – 87 stocks on the index rose, 12 fell and four were flat compared to the previous close.

On a weekly basis, the BIST 100 slipped 5.88 percent.

The total market value of the BIST 100 at close was 780 billion Turkish Liras ($109 billion), with a daily trading volume of 25 billion liras ($3.4 billion).

Shares of defense giant Aselsan, real estate investment trust Emlak Konut GYO, and private lender Garanti BBVA saw the highest trading volumes.

One ounce of gold sold for $2,069.00 by market close, up from $2,064.20 at the previous close, according to data from Borsa Istanbul’s Precious Metals and Diamond Markets.

Hurriyet Daily News

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