Istanbul stock exchange will continue operations, disinformation center denies allegations

Türkiye’s Disinformation Combat Center (DMM) responded to claims circulating on social media suggesting that Borsa Istanbul, the country’s stock exchange, might cease trading on Monday due to escalating regional tensions. The center made it clear that no decisions had been made or even considered by relevant institutions regarding this matter, dismissing any notions that such an action was on the table.

The DMM cautioned the public about attempts to manipulate the market by spreading rumors of a potential halt in trading on Monday in response to the heightened regional unrest following U.S.-Israel attacks on Iran. It emphasized that these claims were aimed at creating panic and undermining confidence in financial markets. The center took legal action against what it deemed as unfounded posts intended to destabilize the economic landscape, urging people to refrain from trusting unverified reports targeting the financial system and instead follow official statements from authorities.

Social media accounts have been circulating claims about the possible closure of Borsa Istanbul on Monday, insinuating that a decision to that effect may be imminent, although the DMM stated otherwise. The center stressed that no such decision had been made, nor was such an option even being considered, highlighting the importance of not succumbing to false information propagated online.

The BIST 100 index began the previous week at 14,092.16 points and closed on Friday at 13,717.81, marking a 2.7% decrease during this period. The last instance in which Borsa Istanbul halted trading occurred in early February 2023, following the Kahramanmaras earthquakes, when transactions were suspended for five business days.

Overall, it is crucial to remain vigilant against misinformation and disinformation campaigns seeking to disrupt financial stability and sow confusion among the public. By relying on official sources and accurate information, individuals can prevent unwarranted speculation and maintain trust in the integrity of financial markets.