Global markets show mixed performance

In the New York stock market, the Dow Jones index fell by 0.76 percent, the S&P 500 index by 1.76 percent, and the Nasdaq index by 1.18 percent. US index futures started the new day with an increase of nearly 1 percent, driven by Amazon's earnings exceeding expectations.

While a sales-weighted trend prevailed in European stock markets yesterday, the European Central Bank (ECB) kept all three key policy rates unchanged.

Speaking at a press conference in Athens following the interest rate decision, ECB President Christine Lagarde stated that the European economy is weak and noted that inflation is expected to remain at high levels for too long.

While the DAX 40 index in Germany fell by 1.08 percent, the CAC 40 index in France by 0.38 percent, and the FTSE 100 index in the UK by 0.81 percent, the MIB 30 index in Italy rose by 0.29 percent. Index futures in Europe started the new day with gains.

While Asian equity markets started the new day with a buying-weighted trend, the nearly 1 percent rise in futures for the technology-heavy US Nasdaq index is influencing this trend.

As industrial profits in China continue to rise, risk appetite in equity markets was seen to increase on the new day following the stronger-than-expected growth in the US and the balance sheets announced yesterday.

Inflation data released in Japan increased uncertainties regarding the decisions the Bank of Japan (BoJ) will take at its meeting next week.

Analysts noted that recent reports in the Japanese press suggest the Bank of Japan (BoJ) could expand its yield curve target range, and stated that the monetary policy decisions the bank will announce next week could increase volatility in the markets.

In the country, the Consumer Price Index (CPI) exceeded forecasts in October with a 3.3 percent increase, while core CPI rose by 2.7 percent.

While Japan's 10-year bond yield continues to remain at 0.88 percent, a 10-year high, the dollar/yen parity is also hovering at 150.1, its highest level in the last year.

Near the close, the Nikkei 225 index in Japan rose by 1.3 percent, the Hang Seng index in Hong Kong by 1.6 percent, the Kospi index in South Korea by 0.1 percent, and the Shanghai composite index in China by 0.9 percent.

Domestically, the BIST 100 index at Borsa Istanbul, which followed a buying-weighted trend yesterday, completed the day with a 3.19 percent increase at 7,662.05 points, while the Central Bank of the Republic of Turkey (TCMB) raised its policy rate by 500 basis points to 35 percent yesterday.

In the announcement made by the TCMB, it was noted that the monetary transmission mechanism would continue to be strengthened with additional steps aimed at increasing the share of Turkish lira deposits, and it was reported that the pass-through of cost-push pressures stemming from wages and exchange rates, as well as tax regulations, which have been effective recently, to inflation has been largely completed.

According to the Communiqué published in the Official Gazette, the TCMB introduced implementation conveniences regarding export loans and firms' access to credit as part of simplification, along with steps to increase the share of the Turkish lira (TL) in the banking system.

The dollar/TL, after completing the day at 28.1647 with a 0.1 percent rise yesterday, is trading at 28.1710 at the opening of the interbank market today.

Analysts stated that personal income and expenditures in the US today, along with the University of Michigan consumer confidence index data and the news flow regarding the Israel-Palestine conflict, will be monitored, and noted that from a technical perspective, the 7,700 and 7,750 levels are resistance, while 7,600 and 7,400 points are support for the BIST 100 index.

News Source: 12punto