Investors To Closely Follow Developments About New Government And Prime Minister

ISTANBUL - People investing in the stock exchange will closely follow developments about the formation of a new government and the prime minister nominee.
Sekeryatirim Menkul Degerler (securities) Institutional Finance and Research Deputy Directress Asli Yuksel told A.A correspondent on Monday that the Justice and Development Party (AK Party) had stated that it was not the ''nightmare'' of foreign investors, it preferred policies close to the center and it was away from radical statements.
Reminding that the interest rates decreased by 9 points and the index started to clim, Yuksel said, ''all these developments lead us to expect that AK Party's ruling will create a positive process in the medium term. The indefiniteness in the prime minister candidate and indecisiveness of the buyers and sellers can cause one or two day fluctuations. The most important development that strengthened this expectation is the foreign exchange rates in the interbank market this morning. The U.S. dollar in the interbank market which opened at 1 million 734 thousand and 1 million 740 thousand Turkish liras (TL) recessed to 1 million 700 thousand-1 million 710 thousand TL a short time later after the first speculative panic.''
Yuksel noted, ''although all these developments indicate that there can be a recess to 10,000 in the index, we think that there will be an increase in the medium-term.''
There would be a cautious atmosphere in the markets for the following two weeks due to discussions on formation of a new government and prime minister candidate and nomination of ministers from AK Party, Yuksel stated.
Yuksel added, ''investors who like risks should pass this period by forming portfolio.''