Morning Report (Trive Yatırım Menkul Değerler )

BLOOD BATH CONTINUES
" The BIST100 was once again the scene of harsh selloffs, intensifying today with the closing of credit positions, accelerating towards the end of the session, closing 1.81% lower at 10,487, but with a low turnover of TRY 82.1bn, due to both the lack of positive catalysts on the domestic side, as well as the potential contagion of the Middle East violence into Lebanon, and tomorrow's US PCE figures. The US German and Dutch governments warned their citizens to leave Lebanon over rising regional tensions.
" The global markets will also be monitoring tomorrow's US Personal Consumption Expenditure price index, which is the Fed's preferred inflation gauge, as an easing on the prices pressures can increase the likelihood that the Fed begins rate cuts this year.
" The Banks fell by 1.27%, while the Industrials fell by over 2% and the Mining stocks, due to the sharp fall in GOLD prices, lost 3.27%. The only stocks that once again were the least sold compared to their peers, were the REITs.
" EKGYO and ARCLK were the only stocks that managed to close in the green among the BIST30 stocks, ARCLK rising on media reports that Bosch is interested in acquiring the US Whirlpool white goods company. On the flipside, KOZAA-SASA and KRDMD were the most sold.
" As of print, the TRY is trading flat against the USD at 32.84, after having had weakened to mid-32.90's yesterday, and also calm against the Euro at 35.11, while the DXY has dropped to 105.91, after rising over the 106 threshold yesterday. On the Bonds' side, both the 2yr and 10yr yields retreated by 60bps and 15bps to 42.04% and 28.65%, respectively.
" On the Commodity front, Brent has receded to $84.22, ahead of tomorrow's PCE figures, and GOLD is flat at $2300, pressured by both the strong USD, and poor industrial profit data from China, and also capped gains on key industrial commodities such as Copper.
" Last week, Foreign Investors were net SELLERs of $439mn STOCKS, but net BUYERs of $792mn BONDS.
" Local investors will be following developments from the FATF, as expectations are for Türkiye to be removed from the Grey list, to be announced either today or tomorrow. Yesterday, Türkiye passed the Bill on the Amendment of the Capital Markets Law, which includes regulations on crypto assets, was passed by the Turkish Grand National Assembly and became law, thus strengthening Türkiye's case for the exclusion.

AGENDA

" On the local front, the CBRT policy rate will be disclosed, but the one-week repo rate is expected to remain unchanged at 50%, while the post MPC meeting will provide a clearer sign into the Bank's future path, along with the Economic Confidence figure.
" On the international front, the US GDP growth rate, Wholesale figures, Weekly Jobless Claims-Durable Goods Orders and Pending Home Sales numbers will be disclosed, while our colleagues in the Eurozone will be following the Consumer-Real-and Economic Confidence Levels.

CORPORATE NEWS

" HTTBT: Disclosed that it has extended its business relationship with FlyArystan, an airline within the Air Astana group, the national airline of Kazakhstan. FlyArystan that has been using HTTBT's passenger service system solutions since 2019, for a further 3 years.
" KOZAA: Disclosed that it has decided to sell its 99% shares in ATP Insaat ve Ticareet A.S. to its parent company Koza Ipek Holding for TRY 1.75bn.

 
 Trive Yatırım Menkul Değerler A.Ş.
  https://www.trive.com.tr/

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                        Yasal Uyarı
 
  Burada yer alan yatırım bilgi, yorum ve tavsiyeler yatırım danışmanlığı kapsamında değildir.Yatırım danışmanlığı hizmeti ; aracı kurumlar, portföy yönetim şirketleri, mevduat kabul etmeyen bankalar ile müşteri arasında imzalanacak yatırım danışmanlığı sözleşmesi çerçevesinde sunulmaktadır.Burada yer alan yorum ve tavsiyeler, yorum ve tavsiyede bulunanların kişisel görüşlerine dayanmaktadır.Bu görüşler mali durumunuz ile risk ve getiri tercihlerinize uygun olmayabılır.Bu nedenle, sadece burada yer alan bilgilere dayanılarak yatırım kararı verilmesi beklentilerinize uygun sonuçlar doğurmayabilir.