May 23, 2018 / 5:34 AM / in a year

Turkey - Factors to Watch on May 23

ISTANBUL, May 23 (Reuters) - Here are news, reports and events that may affect Turkish financial markets on Wednesday.

The lira stood at 4.7775 against the U.S. dollar at 0530 GMT, weakening from a close of 4.6746 on Tuesday and having hit a record low of 4.8450 overnight, bringing its declines so far this year to more than 21 percent.

The yield on the benchmark 10-year bond was at 14.88 percent in spot trade on Tuesday and rose to 14.95 percent in Wednesday-dated trade.

The main BIST 100 share index rose 1.05 percent to 103,327.74 points on Tuesday.


Asian shares were mostly weak on Wednesday with investors cautious after U.S. President Donald Trump tempered optimism over progress made so far in trade talks between the world’s two largest economic powers. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 percent, while Japan’s Nikkei lost as much as 1.4 percent to hit a 1-1/2-week low and the Shanghai Composite Index retreated 0.6 percent.


President Tayyip Erdogan will hold regular meetings with Prime Minister Binali Yildirim (1100 GMT) and the head of the National Intelligence Agency (MIT) Hakan Fidan (1230 GMT). He will hold a fast-breaking dinner with former members of parliament (1710 GMT).


Mahir Unal, spokesman of Erdogan’s ruling AK Party, will hold a news conference (1100 GMT).


The Turkish Statistical Institute will announce consumer confidence index data for May (0700 GMT).


The automaker will hold a news conference (0630 GMT).

For other related news, double click on:

Turkish politics TR-POL

Turkish equities TR-E

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Istanbul National-100 stock index, interbank lira trading, lira bond trading (Writing by Daren Butler)

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