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Türkiye's stock exchange, Borsa Istanbul, continued to edge higher on Tuesday as the benchmark BIST 100 began the session at a record 11,741.47 points, up 0.34% from the previous close amid rising optimism over potential interest rate cuts by Turkish policymakers and positive sentiment in global markets.
The index extended its gains throughout the morning, climbing more than 1.5% to reach a new intraday high of 11,893.02 points. By midday local time, BIST 100 was hovering around the 11,830 level with a 1.1% increase.
On Monday, Borsa Istanbul closed at a record 11,702.00 points, up 1.77%, with a daily trading volume of ₺145 billion ($3.36 billion), as better-than-expected December inflation figures lifted expectations that the Central Bank of the Republic of Türkiye (CBRT) could deliver a 150 basis point rate cut in January, bringing the policy rate down to 36.5%.
At Tuesday’s open, sector-wise performance showed financial leasing and factoring leading gains with a 1.15% increase, while textile and leather stocks were the only group to decline, falling 2.31%. The banking and holding indices posted moderate gains of 0.19% and 0.33%, respectively.
In a research note from Ak Yatirim, the brokerage unit of Turkish bank Akbank, analysts said the BIST 100 index remains about 20% below its all-time high in U.S. dollar terms. "We expect the moderate uptrend to continue," the note stated.
The brokerage identified the 11,715–11,927 point range as the first technical resistance band, with the 12,100–12,270 range cited as the next stage of upward movement.
The rally in Türkiye also reflects a broader global upswing, driven by optimism over artificial intelligence and tech stocks, along with gains in energy and defense shares following the U.S. military operation in Venezuela.
U.S. stocks closed higher on Monday, with the Dow Jones hitting a record 48,977.18, while the Nasdaq rose 0.69% to 23,395.82 and the S&P 500 climbed 0.64% to 6,902.05.
Asian markets followed suit on Tuesday. Japan’s Nikkei 225 rose 1.3% to a new record of 52,518, South Korea’s Kospi gained 1.5% to 4,525.48, and China’s Shanghai Composite increased 1.5% to 4,083.67. The Hang Seng Index in Hong Kong climbed 1.4% to 26,710.45.
Other Asian indices, including those in Singapore, Wellington, Taipei, Manila, and Jakarta, also posted notable gains.
In Europe, key indices opened positively. The pan-European Stoxx 600 was up 0.3% at 602.54, Germany’s DAX rose 0.1% to 24,904.68, and the UK’s FTSE 100 advanced 0.46% to surpass the 10,000-point mark at 10,004.40. Spain’s IBEX 35 rose 0.25%, while France’s CAC 40 slipped 0.06% at the open.
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