Morgan Stanley Downgrades Turkish Equities

Actually I have downgraded Turkish equities (when ISE-100 was 43000) and sold my AKBNK shares at YTL6.85 last week. Since then ISE-100 dropped to 42000 and AKBNK trades at YTL6.40. Today Morgan Stanley decided that ISE-100 run its course too (Source:Bloomberg)

Morgan Stanley, the second biggest U.S. securities firm, also downgraded Turkish and Indian stocks to ``underweight'' from ``equal-weight'' after a one-month rally.
``India and Turkey's downgrades follow more than 24 percent outperformance since last month,'' Garner wrote. ``This has led to a reversal of their technically oversold position and a deterioration in valuation rankings.''