Latest status in markets after Black Monday: How did the stock market start the day? What is the latest on Bitcoin?

Global markets entered a recovery trend today following the historic selling pressure seen yesterday (Monday, August 5) as recession concerns in the US rapidly intensified.

After 'Black Monday', the BIST 100 index at Borsa Istanbul started the day with a 2.71 percent increase at 10,161.67 points.

At the opening, the BIST 100 index rose by 268.26 points and 2.71 percent compared to the previous close, reaching 10,161.67 points.

The banking index gained 2.78 percent and the holding index gained 2.62 percent. While all sector indices rose, the transportation sector was the top gainer with 4.07 percent.

Moving in a downward trend yesterday, the BIST 100 index at Borsa Istanbul completed the day with a 5.54 percent loss compared to the previous close, at 9,893.41 points.

WHAT IS THE LATEST STATUS IN ASIAN MARKETS?

Asian markets, which experienced a historic decline yesterday due to rising recession concerns, are following a mixed course today.

Yesterday, the risk perception regarding the country's assets reached a peak, particularly in the selling pressure in Japan, after expectations that the Bank of Japan (BoJ) might have entered a rate hike cycle combined with recession concerns in the US.

Analysts stated that investments made in high-yield assets with Japanese yen borrowing triggered the selling pressure in regional markets due to the BoJ's rate hike and the rapid appreciation of the Japanese yen.

Thus, both the yen, which strengthened with the BoJ's hawkish stance, and the concern that rising global recession fears could negatively affect the performance of Japanese export companies played an important role in deepening yesterday's selling pressure in Japanese equity markets.

Today, officials from the Japanese Ministry of Finance, the Financial Services Agency, and the BoJ are expected to meet to discuss the state of the markets.

Additionally, the Reserve Bank of Australia kept its policy rate steady at 4.35 percent.

The yen, which reached its highest level against the dollar since January 2, 2024, yesterday, recorded a decline today. The dollar/yen parity, which fell to 141.69 yesterday, is at 145.9 today with a 1.2 percent increase.

Analysts stated that risk appetite in the markets increased today due to the thought that the correction seen yesterday, led by Japanese markets, might be excessive, but that investors might remain cautious.

While an upward trend stood out in Japanese equity markets, some of the losses were recovered. Japan's Nikkei 225 index, which experienced its sharpest wave of selling since 1987 yesterday, completed the day today with a 10.23 percent increase at 34,675 points, recording its fastest rise in 16 years.

In South Korea, the Kospi index completed the day with a 3.30 percent gain at 2,522 points.

In Hong Kong, the Hang Seng index is at 16,661 points with a 0.2 percent decrease, the Shanghai composite index in China is at 2,850 points with a 0.4 percent drop, and the Sensex index in India is at 79,300 points with a 0.7 percent increase.

BITCOIN PRICE INCREASED BY MORE THAN 10 PERCENT

The price of the cryptocurrency Bitcoin rose by more than 10 percent in the last 24 hours to over 55 thousand dollars, following the historic selling pressure experienced in cryptocurrencies as well as global markets yesterday.

According to data from the analysis company Coinmarketcap, the value of the global cryptocurrency market, including Bitcoin, increased by 9.6 percent in 24 hours to 1 trillion 980 billion dollars.

Analysts stated that markets were somewhat relieved following the data released in the US yesterday and the statements of Fed officials.

As of 09:45, Bitcoin, which saw a 10.5 percent increase in its price in the last 24 hours, reached the level of 55,791 dollars.

Ethereum, which ranks second in terms of market value, gained 12.1 percent in the last 24 hours and rose to the level of 2,520 dollars.

Global markets had faced historic selling pressure on the first trading day of the week due to rapidly strengthening recession concerns in the US and developments in the Asian market.