ISTANBUL, Dec 27 (Reuters) - Turkish shares hit record highs and bond yields rose on Thursday in thin trade, with volumes expected to remain low until the end of the year.
Istanbul’s main share index closed up 0.59 percent at 78,454 points after earlier hitting its highest-ever level of 78,862.07 points, outperforming a rise of 0.33 percent in the global emerging markets index.
“There was nothing specific to Turkey in the equity market today. We don’t expect to have a major move until the year-end. The trading is low. The index was driven by specific companies’ shares,” said Kutlug Doganay, equity analyst at Is Investment.
Shares in Turkish lender Alternatifbank continued to rise and closed up 13.97 percent at 2.61 lira after it said on Dec. 24 that Anadolu Holding, which has a 77.7 percent stake in the bank, will start talks to sell its stake to Commercial Bank of Qatar. Since the statement, Alternatifbank shares have risen around 55 percent.
By 1605 GMT, the lira was at 1.7907 to the dollar , slightly stronger than 1.7925 late on Wednesday. Against its euro-dollar basket it firmed to 2.0796 from 2.0830.
The yield on the two-year benchmark bond rose to 6.16 percent in thin trade from Wednesday’s close of 6.08 percent. (Writing by Seltem Iyigun; Editing by Roger Atwood)