MSCI Threatens to Revoke Turkey's Emerging Market Status, Immediately Freezes Related Index Changes Due to Stock Manipulation Scandal
MSCI said on Thursday that Turkey's emerging market status is at risk due to ongoing stock manipulation scandals in the country, and immediately froze certain index changes related to Turkish equity securities. This follows the Turkish Capital Markets Board (SPK) ordering the liquidation of 131 investment funds with a total value of approximately $20.2 billion, and the country's benchmark stock index BIST 100 plummeting 16.7% in September.
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