in neighbor and longtime rival Greece spooked investors. The news sent the iShares MSCI Turkey ETF (NYSEArca: TUR) down 20% from its 2010 high on February 1st,” Carlton Delfeld Reports From MoneyShow.
Delfeld goes on to say, “According to various sources, including the BBC and the Canadian press, prosecutors interrogated quite a few military officials about alleged plans to destabilize the country by blowing up mosques and provoking Greece into shooting down a Turkish plane over the Aegean Sea in order to trigger a coup and topple the government. This is James Bond stuff writ large.”
“Ironically, Standard & Poor’s upgraded Turkey’s long-term foreign currency rating to BB from BB- and issued a positive outlook for the country, which suggests the likelihood of additional rating increases in the next year or two. The reduced debt burden and the stability of Turkish banks were behind the S&P decision. Although Turkey’s debt market did not seem to respond to the news, the lira weakened. I am still an optimistic on the Turkey ETF and the Turkish lira,” Delfeld Reports.
See The Full Story: HERE
Here are some details on the iShares MSCI Turkey ETF (TUR):
The investment (TUR) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Turkey Investable Market index. The fund generally invests at least 90% of assets in securities of the Underlying index and in ADRs based on securities of the Underlying index. The Underlying Index is a free float-adjusted market capitalization index designed to measure broad-based equity market performance in Turkey. It is nondiversified.
|TOP 10 HOLDINGS ( 59.53% OF TOTAL ASSETS)|