Following a corruption scandal that saw a spate of high-profile arrests and sent investors heading for the exit, Turkey’s market went into a tailspin. Cris Sholto Heaton reports.
Was 2013 a good year for Turkey?
Not if you were an investor. Turkish stocks fell more than 28% in US dollar terms during the year, making Turkey the world’s worst-performing major market. Much of the damage happened in the last month after a major corruption scandal that saw police detain a number of high-profile figures on allegations of bribery for real-estate projects.
Those involved include a construction tycoon, the [...]
Want to read this article now?
Already a MoneyWeek subscriber? Please log in below.
Not a subscriber? Sign-up now for a 4 week FREE trial to get instant access.