MARKET WATCH (SEKER YATIRIM)

MARKET WATCH (SEKER YATIRIM)

THE BIST-100 INDEX STARTED TUESDAY WITH SELLING PRESSURE AT 10,921.12, RISING ABOVE 11,000 POINTS BY MIDDAY, AND CLOSING AT 11,023.55, UP 0.56%. ACCORDING TO INFLATION DATA RELEASED DOMESTICALLY YESTERDAY, CPI ROSE BY 2.58% MONTHLY IN OCTOBER, WHILE ANNUAL INFLATION ROSE TO 29.77%. FOLLOWING THE DATA RELEASE, THE BANKING INDEX DIVERGED NEGATIVELY WITH A 1.27% LOSS, WHILE THE INDUSTRIAL INDEX DIVERGED POSITIVELY WITH A 1.17% INCREASE. THE STRONGEST PERFORMANCE OF THE DAY WAS SHOWN BY THE FORESTRY, PAPER AND PRINTING INDEX WITH A 4.95% GAIN, WHILE THE WEAKEST CAME FROM THE FINANCIAL LEASING AND FACTORING INDEX WITH A 4.75% DECREASE. THE VIOP DECEMBER FUTURES CONTRACT FOR THE NEAR-TERM INDEX FELL 0.03% IN A CALM EVENING SESSION. IN TURKIYE, FOLLOWING A MEETING OF THE FUND COORDINATION BOARD, IT WAS ANNOUNCED THAT AS OF OCTOBER 30TH, A TOTAL OF 97.3 BILLION LIRA HAD BEEN PAID TO 247,839 INVESTORS IN 100 FUNDS UNDER ORDINARY AND EXTRAORDINARY LIQUIDATION. THE BOARD STATED THAT INTERIM PAYMENTS WOULD CONTINUE THIS WEEK. GLOBALLY, TECHNOLOGY-HEAVY INDICES IN U.S. STOCK MARKETS SHOWED POSITIVE DIVERGENCE, DRIVEN BY A RECOVERY IN SEMICONDUCTOR STOCKS. IN SEPTEMBER, THE JOLTS JOB OPENINGS DATA ROSE TO 7.52 MILLION, EXCEEDING MARKET EXPECTATIONS OF 7.15 MILLION, WHILE FACTORY ORDERS INCREASED BY 1.8%, SURPASSING THE EXPECTED 1.2% MONTHLY INCREASE. THE DOW JONES INDEX FELL 0.38%, WHILE THE S&P 500 INDEX ROSE 0.36% AND THE NASDAQ INDEX ROSE 0.83%. A BEARISH SENTIMENT PREVAILED IN EUROPEAN MARKETS. THE EURO STOXX 50 INDEX FELL 0.61%, THE GERMAN DAX INDEX 0.45%, THE FRENCH CAC 40 INDEX 0.34%, AND THE UK FTSE 100 INDEX 1.14%. IN THE U.S., PRELIMINARY RESULTS FROM THE NOVEMBER 3RD MIDTERM ELECTIONS SHOW DEMOCRATS REGAINING A MAJORITY IN THE SENATE, WINNING SIX SEATS FROM REPUBLICANS. INITIAL RESULTS IN THE HOUSE OF REPRESENTATIVES ALSO SUGGEST DEMOCRATS COULD SURPASS THE 218-SEAT MAJORITY THRESHOLD. IF BOTH HOUSES OF POWER PASS TO THE DEMOCRATS, IT MEANS TRUMP WILL NEED THE SUPPORT OF THE OPPOSITION FOR BUDGET AND TAX REFORMS. FOLLOWING THE INITIAL RESULTS, THE DOLLAR INDEX AND U.S. FUTURES FELL, WHILE THE U.S. 10-YEAR TREASURY YIELD DROPPED 7 BPS TO 4.90%. ON THE GEOPOLITICAL FRONT, THE U.S. TARGETED IRANIAN AIR DEFENSE MISSILES ON QESHM ISLAND. QATAR ANNOUNCED THAT IT REMAINS COMMITTED TO THE MEDIATION PROCESS BETWEEN WASHINGTON AND TEHRAN AND IS CONSIDERING PROPOSALS. AT THE START OF THE NEW DAY, BRENT CRUDE OIL IS TRADING AROUND USD102.7 PER BARREL IN THE SPOT MARKET, DOWN APPROXIMATELY 0.8%. U.S. FUTURES HAVE RECOVERED A SIGNIFICANT PORTION OF THEIR LOSSES FOLLOWING THE INITIAL REACTION TO THE ELECTION RESULTS. AS OF 08:51 GMT, THE DOW JONES FUTURES ARE DOWN 0.22%, THE S&P 500 FUTURES ARE DOWN 0.40%, WHILE THE NASDAQ 100 FUTURES, WHICH FELL MORE THAN 2% EARLIER IN THE DAY, HAVE SEEN THEIR LOSSES REDUCED TO 0.49%. IN EUROPE, DAX AND EURO STOXX 50 FUTURES ARE POINTING TO A NEGATIVE OPENING THIS MORNING. IN ASIA, WHILE SIGNIFICANT LOSSES FROM THE PREVIOUS SESSION HAVE BEEN LARGELY RECOVERED, THE NIKKEI IN JAPAN IS TRADING DOWN APPROXIMATELY 2%. THE KOSPI IN SOUTH KOREA IS TRADING RELATIVELY FLAT. THE HANG SENG IN HONG KONG AND THE SHANGHAI INDICES IN CHINA ARE SHOWING POSITIVE DIVERGENCE WITH GAINS OF NEARLY 1%. ON THE MACROECONOMIC DATA AGENDA FOR THE DAY, DOMESTICALLY, THE OCTOBER REER, SEASONALLY ADJUSTED CPI, AND THE CBRT`S MONTHLY PRICE DEVELOPMENTS ASSESSMENT STAND OUT. ABROAD, PRELIMINARY EUROZONE INFLATION DATA, FINAL SERVICES PMI DATA FROM EUROPE AND THE UK, A SPEECH BY ECB CHIEF ECONOMIST LANE, AND IN THE U.S., ADP PRIVATE SECTOR EMPLOYMENT, TRADE BALANCE, SERVICES PMI, ISM SERVICES INDEX, AND WEEKLY OIL INVENTORIES WILL BE MONITORED. MARKET EXPECTATIONS FOR ADP PRIVATE SECTOR EMPLOYMENT ARE FOR AN INCREASE OF 67,000. LOCALLY, WE EXPECT THE BENCHMARK INDEX TO START WEDNESDAY WITH LIMITED POSITIVE MOMENTUM, FOLLOWED BY A VOLATILE INTRADAY COURSE.
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