SPK launches probe into price fluctuations in stock exchange
ISTANBUL
The Capital Markets Board (SPK) has launched an investigation into the “unusual price movements” in Borsa Istanbul.
The transactions of all institutions are being reviewed by both the SPK and Borsa Istanbul, the board said in a statement on Feb. 21.
The investigation aims to identify any deliberate and misleading news that may have caused unusual price movements, the statement added.
The Turkish benchmark stock index closed on Feb. 21 at 9,602.16 points, down 2.09 percent from its previous close.
As many as 93 indexes lost in value, while seven closed the day with gains.
The total transaction volume reached 108 billion Turkish Liras ($2.96 billion), while the overall value of the index was 8.45 trillion liras ($233.2 billion).
“Our board additionally initiated the necessary legal proceedings/investigations against those who disseminate deliberate and misleading news that cause unusual price and movements,” the authority said.
“Criminal and/or administrative steps will be taken against any actions and transactions that disrupt the functioning of the capital market in a secure, transparent, and stable manner,” it added.
