Turkish Shares Surge Amid Syrian Developments

Shares of Turkish construction and cement companies rose sharply on Monday due to optimism over rebuilding efforts in Syria following the recent political shift. The fall of Syrian President Bashar al-Assad boosted Turkish non-metal and construction indices, while other markets showed mixed reactions to geopolitical and financial developments.

In a significant development for Turkish economy, shares of construction and cement companies surged on Monday. This boost comes amidst expectations of economic gains from rebuilding efforts in Syria following the fall of President Bashar al-Assad.

The political shift marks a major event in the Middle East after 13 years of civil war, significantly affecting regional markets. Turkey’s non-metal index saw an increase of 6.5%, with the construction index rising by 2.88%. Meanwhile, the lira slipped slightly by 0.2%.

Global markets responded variably. The Israeli shekel strengthened, while South Korea faced market declines. European markets, including Hungary, experienced gains, reflecting geopolitical and economic influences across the globe.

(With inputs from agencies.)