Europe Asia News

The following statements were included in Piramit Menkul Kıymetler’s analysis:

“Asian stock markets, which started the week positively, continue their upward momentum. This morning, Japan’s Nikkei 225 Index rose by 1.13% and the Topix Index by 1.51%. In China, the Shanghai Composite Index increased by 0.96% and the Shenzhen Composite Index by 0.84%. Hong Kong’s Hang Seng Index gained 1.33%. South Korea’s Kospi Index rose by 1.05%, while Taiwan’s Taiex Index gained 1.57%. Australia’s S&P/ASX200 Index declined by 0.52%.

Today, Germany’s final CPI data for December will be released, followed by the Eurozone’s final CPI data tomorrow. In Germany, CPI in November posted a monthly decline of 0.2% and an annual increase of 2.3%, meeting expectations. For December, a monthly increase of 0.3% and an annual rise of 2.0% are expected.

In addition, final December services PMI data will be monitored worldwide throughout the day. According to preliminary figures:

Germany’s reading fell from 53.1 to 52.6. The Eurozone’s reading declined from 53.6 to 52.6. The UK’s reading moved from 51.6 to 52.1. The U.S. reading decreased from 54.1 to 52.9. No changes are expected in the final data.

The BIST 100 Index closed Monday up 1.77% at 11,702 points. During the session, the index traded in the 11,510–11,726 range, while trading volume amounted to TRY 144.66 billion.

On the upside, the 11,725 level, which represents resistance of the rising trend, may be targeted. On the downside, the horizontal support at 11,580 can be monitored initially. If this support is broken, the horizontal support at 11,255 may be watched, followed by 10,810 if the move continues.

The dollar-based BIST 100 Index started the day at 268 USD and traded in the 267–272 USD range, closing at 272 USD. On the upside, the first resistance is the horizontal trend resistance at 272 USD, followed by 281 USD. On the downside, the first support is the upper band of the descending channel at 265 USD; if broken, the horizontal support at 257 USD may be followed.

The near-term VIOP 30 contract closed Monday up 1.82% at 13,329 points. During the session, the contract traded between 13,106 and 13,369. From a technical perspective, the first resistance on the upside is the horizontal resistance at 13,435, followed by 13,700 if the move continues.

On the downside, the first support is the horizontal support at 13,240. If this level is broken, the upper band support of the descending channel at 13,005 may be monitored, followed by the horizontal support at 12,500.

The USD/TRY exchange rate traded in the 43.02–43.05 range on Monday. On the upside, the first resistance is the long-term rising channel resistance at 43.10. If this level is surpassed, 43.68 may be monitored, followed by 44.18 if the move continues.

On the downside, the first support is the long-term rising channel support at 42.53. If the move continues, the horizontal support at 41.53 may be monitored.”