ISTANBUL Jan 18 Turkish shares hit a record
high for the fifth consecutive day on Friday, while the lira
eased slightly after hitting its strongest level versus the
dollar for 10 months in the previous session.
Investors are focused largely on the central bank's monthly
policy meeting next week.
By 1541 GMT, the lira was at 1.7612 per dollar,
slightly weaker than 1.7536 late on Thursday. Against its
euro-dollar basket, it eased to 2.0529 from
The lira hit 1.7513 to the dollar, a 10-month high, in
after-hours trade on Thursday, buoyed by the positive economic
outlook and expectations that Turkey's sovereign credit rating
will be upgraded.
Analysts said the outcome of the central bank's policy
meeting on Jan. 22 would determine the trend in the lira.
The main Istanbul share index closed up 0.17
percent at 85,004 points, underperforming a 0.66 percent rise in
global emerging markets, after earlier hitting a new
record high of 85,596.65 points.
Automobile maker Karsan jumped 4.2 percent to
1.24 lira after it signed a letter of intent with French
carmaker Renault to develop and produce the Dokker
leisure activity vehicle developed by manufacturer Dacia.
The yield on the two-year benchmark bond
closed at 5.96 percent, from Thursday's close at 6 percent.
(Writing by Seltem Iyigun; Editing by Catherine Evans)