FX.co ★ Turkish Stocks Gain After Court Postpones Opposition Ruling

In mid-September, Turkey’s BIST 100 index experienced a rebound, rising above the 10,900 mark. This uptick followed a court's decision to delay a ruling regarding the leadership of the Republic People’s Party (CHP) to October 24. The case involves alleged irregularities during the party's 2023 congress, including the removal of its elected leadership, and was originally set to conclude on September 15. The postponement alleviated some investor anxiety over potential political instability, with banking stocks, which had been particularly affected, spearheading the recovery. Meanwhile, several CHP members, notably Istanbul Mayor Ekrem Imamoglu, who is a significant political adversary to President Erdogan, remain in custody. They are awaiting trial amid extensive investigations into alleged corruption and connections to terrorism. On the economic side, the Central Bank of Turkey reduced its key one-week repo rate by 250 basis points in September, setting it at 40.5%, slightly lower than the anticipated 41%. In terms of economic performance, annual inflation decreased to 32.95% in August, while GDP saw a year-on-year growth of 4.8% in the second quarter of 2025.