Central bank turbulence has not swayed investors away from Turkey: Turkey’s sovereign wealth fund’s debut international bond issuance was met with a strong investor appetite, despite the sudden leadership change within the country’s central bank last week. The Turkey Wealth Fund reeled in some USD 7 bn in orders for its USD 500 mn USD-denominated bond issuance yesterday, according to a term sheet seen by the Financial Times.

Remember: Last week, President Recep Tayyip Erdogan appointed Fatih Karahan to lead the country’s central bank, replacing former governor Hafize Gaye Erkan, who stepped down just eight months into occupying the position.

ADX

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DFM

4,161

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Nasdaq Dubai UAE20

3,720

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USD : AED CBUAE

Buy 3.67

Sell 3.67

EIBOR

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TASI

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EGX30

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FTSE 100

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THE CLOSING BELL-

The DFM rose 0.2% yesterday on turnover of AED 454.5 mn. The index is down 2.3% YTD.

In the green: International Financial Advisors (+9.5%), Mashreqbank (+5.1%) and Union Properties (+4.4%).

In the red: Takaful Emarat (-9.9%), Shuaa Capital (-5.8%) and Gulf Navigation Holding (-2.9%).

Over on the ADX, the index closed up 0.2% on turnover of AED 1 bn, while Nasdaq Dubai rose 0.4%.

MEANWHILE- Asian shares are mixed this morning in early trading.The Kospi and Nikkei are comfortably in the green, but shares in Shanghai and Hong Kong are weakly in the red as traders look for direction and wait for inflation numbers. Futures suggest major European benchmarks will open largely in the green, with Paris’ CAC 40 being the sole exception. And look for a weak open on Wall Street absent a change in momentum.

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