Turkey's bank stocks tumble 10% after sharp rally

Turkiye Vakiflar Bankasi TAO

14/09/2022 10:55

Sept 14 (Reuters) - Turkey's main bank stock index  .XBANK 
fell 9.9% on Wednesday, sliding for a second straight day and
tripping circuit breakers, after a multi-week rally that had
propelled Turkish equities beyond all emerging market peers this
year. 
    Borsa Istanbul said stop-loss breakers were tripped for big
lenders Vakifbank  VAKBN.IS , Akbank  AKBNK.IS , Albaraka Turk
 ALBRK.IS , YapiKredi  YKBNK.IS  and Garanti BBVA  GARAN.IS  as
of GMT 0700.  
    The banking index had more than doubled since the beginning
of last month before reversing on Tuesday, when it tumbled 8%.  
    
    
    

 (
Reporting by Halilcan Soran; Editing by Jonathan Spicer 
)
 ((halilcan.soran@thomsonreuters.com;))