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BRIEF-Trading in Akbank resumed after 10 pct sharp rise in stock price
April 18, 2017 / 2:33 PM / 5 months ago

BRIEF-Trading in Akbank resumed after 10 pct sharp rise in stock price

April 18 - Akbank TAS:

* Istanbul Stock Exchange suspended trading in shares of Akbank after stock price increases suddenly by 10 percent

* Trading resumed after a while and share price returned to same levels before the sudden increase

* Share price in Akbank increased from 9.23 lira to 10.0 lira, according to Reuters total transaction value of traded shares between 9.23 lira and 10.0 lira realized as 26.8 million lira, almost 10 percent of transaction value of intraday trading

* A trader said “sharp increase could have been caused by algorithms”

* In February trading in Turkcell and Koc Holding were suspended after a sharp decrease in share prices caused by High-Frequency Trading (HFT) computer algorithms

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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