Global markets were marked by increasing selling pressure led by technology stocks on the new trading day. Rising geopolitical tension in the Middle East, question marks regarding the artificial intelligence sector, and developments related to chip companies have weakened investor interest in risky assets.
Geopolitical headlines are also being closely monitored in the markets. In his statement regarding the attacks on Saudi Arabia, US President Donald Trump said, "The Houthis are doing bad things, very bad things. This is not good at all." Trump also claimed that the energy ceasefire reached between Russia and Ukraine was being violated by "both sides," but maintained that the agreement remains in effect.
On the technology side, news that the China-based chip manufacturer CXMT has made progress in its chip development efforts increased selling pressure on global technology companies. Messages from the US Federal Reserve also influenced market pricing. Cleveland Fed President Beth Hammack stated that it would be appropriate to maintain restrictive monetary policy for inflation to return to the 2 percent target.
Under this outlook, the US 10-year bond yield fell by 4 basis points to 5.20 percent. The dollar index stabilized at 102.4 after reaching 102.6, which was recorded as the highest level since April 2025.
TECHNOLOGY SELL-OFFS STAND OUT IN ASIA
While technology companies lost value on Wall Street, the sell-off was felt more severely in Asian markets. In the US, Micron Technology fell by 4 percent, Nvidia by 1.3 percent, Broadcom by 1.9 percent, and AMD by 2.3 percent. In Asia, SK Hynix lost 10.6 percent, Samsung Electronics 8.4 percent, and LG Innotek 8.6 percent in value.
In regional indices, near the close of trading, the South Korean Kospi index fell by 6.6 percent, Japan's Nikkei 225 index by 2.1 percent, the Hong Kong Hang Seng index by 0.4 percent, and the Chinese Shanghai composite index by 0.3 percent. In Japan, the Producer Price Index for September fell by 0.3 percent on a monthly basis, while it increased by 6.8 percent on an annual basis.
European stock markets followed a stronger trend in yesterday's trading. The DAX 40 in Germany rose by 0.76 percent, the FTSE 100 in the UK by 0.99 percent, the CAC 40 in France by 0.38 percent, and the FTSE MIB in Italy by 0.58 percent. On a company basis, the increases in Nordex Group and Rheinmetall shares drew attention.
In commodity markets, although the December delivery barrel price of Brent crude oil fell by 0.9 percent to 105.7 dollars, risks originating from the Middle East are keeping prices at high levels. The ounce price of gold rose by 0.6 percent to 4,198 dollars, partly due to the limited easing in the dollar index and oil prices.
Domestically, on a day when selling stood out in Borsa İstanbul, the BIST 100 index closed down 0.94 percent at 12,150.67 points. The Dollar/TL finished the day at 49.2918 yesterday; it traded at 49.3600 with a 0.1 percent increase at the opening of the interbank market on the new day.
The markets' agenda today includes the balance of payments data to be announced in Turkey. Economists participating in the AA Finance Balance of Payments Expectation Survey expect the current account to post a surplus of 3 billion 502.9 million dollars in August. In the technical outlook, 12,100 and 12,000 points are being monitored as support levels for the BIST 100, while 12,300 and 12,400 points are being monitored as resistance levels.
News Source: 12punto
