Istanbul exchange shut for trading

The Istanbul stock exchange announced on Wednesday that it would close for five days in light of this week's deadly earthquake, the first such shutdown since 1999.

The exchange cited an "increase in volatility and extraordinary price movements after the earthquake disaster" in its decision.

The exchange suffered sharp losses before suspending trading on Wednesday morning.

"Considering the low transaction volume that does not allow efficient price formation, all trades executed in the closed markets on Feb 8,2023, will be canceled," it said, noting it would remain closed until the evening of Feb 14.

The last time it suspended trading was after a quake in 1999 that killed more than 17,000 people.

Agencies Via Xinhua