Tactical Purchase Decision by HSBC on Turkish Stocks

Tactical Purchase Decision by HSBC on Turkish Stocks A tactical purchase decision was made on Turkish stocks by HSBC. HSBC raised its recommendation for Turkish stocks to tactical purchase which was zero. HSBC analysts appraisal showing new trends in the global market with the possibility of return to orthodox monetary policy in Turkey for Turkish stocks offered a tactical purchases. 5 stocks proposed by HCBC; Koç Holding, Sabancı Holding, Garanti, Mavi Giyim and Tüpraş. According to the report, which was announced by analysts like Cihan Saraoğlu, Bülent Yurdagül and Cenk Orcan, this step was balanced with the reduction of the buy recommendation for Chinese stocks. Analysts pointed to the new valuation trends in global markets with the possibility of return to orthodox monetary policy in Turkey, said, “At the moment we think it is remarkable tactical opportunity in the Turkish stock market”. In the report of the analysts, "Despite the recent appreciation in value, we find both the stocks and the currency cheap and we think the news flow is constructive both domestically and abroad." At the Monetary Policy Committee meeting to be held on November 19, HSBC expects the CBRT to announce a 375 basis point increase in the one-week repo rate. HSBC's proposed 5 stocks in Turkey; Koç Holding, Sabanci Holding, Garanti was Mavi Giyim and Tupras.