HSBC MSCI Turkey UCITS ETF

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Traders are maintaining a bearish stance on the Turkish lira, reflecting skepticism about its future performance. Despite Turkish authorities' efforts to stabilize the currency, options data shows investors are reluctant to reduce negative bets. This ongoing bearish outlook is driven by concerns over Turkey's economic policies and geopolitical tensions, contributing to the lira's volatility and uncertainty in its trajectory.

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Traders Maintain Bearish Stance on Turkish Lira

Turkey's trade deficit increased to USD 8.4 billion in January 2026, up from USD 7.5 billion a year earlier. Exports fell by 4.1% to USD 20.3 billion, with declines in manufacturing offset by gains in agriculture and mining. Imports rose slightly by 0.1% to USD 28.7 billion, driven by capital goods and other goods, despite drops in intermediate and consumption goods. China was the largest source of imports, while Germany remained the top export market.

- In January 2026, Turkey's trade deficit expanded to $8.4 billion, up from $7.5 billion a year earlier, confirming preliminary estimates by the trade ministry.  
- Exports fell by 4.1% year-on-year to $20.3 billion, mainly due to a 4.7% decrease in manufacturing shipments, although gains in agriculture, mining, and other sectors provided some offset.  
- Imports slightly increased by 0.1% to $28.7 billion, driven by higher purchases of capital goods and other items, while major sources for imports included China and Russia.

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Turkey Trade Deficit Widens in January

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HSBC ETFs MSCI World Islamic SCR $ has reported its net asset value (NAV) as of February 18, 2026. The fund, HSBC MSCI WORLD ISLAMIC SCRND UCITS ETF, has 222,478,000 shares in issue, with a NAV of $77,716,492.54, translating to a NAV per share of $31.36. This information is provided by RNS, the news service of the London Stock Exchange.

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Turkey’s central bank has raised its inflation forecast range, now estimating a midpoint of 19% for 2023, while maintaining its official targets of 16% for this year and 9% for next. Governor Fatih Karahan indicated a positive outlook for inflation, citing improvements in rent inflation and core goods. Despite rising food prices and inflation pressures, the bank plans gradual rate cuts, potentially reducing the policy rate to 28% next month. The bank's cautious approach reflects a balance between disinflation goals and market expectations.

- The Central Bank of Turkey has raised its inflation forecast range while keeping its official targets unchanged at 16% and 9% for this year and next, respectively.  
- The bank's adjusted prediction range for this year is now 15-21%, with a midpoint of 19%, which is closer to market expectations but still more optimistic.  
- Factors influencing the revised forecast include a change in the Consumer Price Index calculation and an increase in service sector weight, alongside concerns about rising food prices and the potential impact of Ramadan.

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Turkish Central Bank Remains Constructive On Inflation Outlook

BIST 100 increased to an all-time high of 12924.00 Index Points.Over the past 4 weeks, BIST NATIONAL 100 gained 13.83%, and in the last 12 months, it increased 27.08%.

Stocks in Turkey Hit All-time High

Turkey's central bank has cut its benchmark interest rate to 37.0% from 38.0%, marking a slower pace of rate cuts amid rising food inflation. This is the fifth consecutive reduction, but economists had anticipated a more significant cut to 36.5%. While inflation reached 30.9% in December, the bank noted that food prices are driving monthly consumer inflation higher. Analysts suggest that the disinflation process may be stalling, but expect inflation to continue declining throughout the year, with potential for renewed easing in monetary policy if conditions improve.

- Turkey's central bank cut its benchmark borrowing rate to 37.0% amid signs of stalled cooling inflation at the start of 2026.  
- The cut follows a slower pace compared to a significant drop in December and comes as food inflation rises, with monthly consumer inflation firming.  
- Economists expect inflation to continue declining this year, with potential for a quicker easing of monetary policy if January's stalling proves temporary.

HSBC MSCI Turkey UCITS ETF(HTRY.UK)

Traders Maintain Bearish Stance on Turkish Lira

Turkey Trade Deficit Widens in January

REG - HSBC ETFs MSCI WLIS$ - Net Asset Value(s)

Turkish Central Bank Remains Constructive On Inflation Outlook

Stocks in Turkey Hit All-time High

Turkish Central Bank Slows Pace of Rate Cuts as Food Inflation Picks Up — Update