On Thursday, the 17th local time, Turkey's Capital Markets Board announced the liquidation of over a hundred funds managed by seven asset management companies, including Tera and Pusula, involving a total value of nearly $20 billion. Concurrently, several financial institution executives were arrested, detained, or subjected to travel bans, and a two-year trading ban was imposed on 38 individuals suspected of stock price manipulation.

The Central Bank of the Republic of Turkey also acted swiftly, increasing its repo financing volume to 300 billion lira and raising banks' borrowing limits in the interbank money market tenfold to ensure ample lira liquidity. Additionally, the minimum equity maintenance requirement for margin trading was temporarily lowered to 20%, and capital adequacy ratio calculations for bank share repurchase programs were granted temporary flexibility.

Following the policy announcements, Turkey's BIST 100 index closed up approximately 3% on Thursday, with the banking sector index surging over 9% intraday. However, a large number of small and mid-cap stocks continued to decline, indicating that market pressure has not yet fully dissipated.