Turkey imposed a ban on six foreign banks from betting against the nation’s stocks in a move that appeared to contradict recent steps toward easing such restrictions. Shares in Istanbul gained, tracking an advance across emerging markets Monday.
Goldman Sachs Group Inc., JPMorgan Chase & Co., Merrill Lynch International, Barclays Bank Plc, Credit Suisse Group AG, and Wood & Co. have been barred from short-selling stocks for up to three months, Borsa Istanbul said in a statement.
The announcement comes less than a week after the Capital Markets Regulator removed a short-selling ban on the largest listed companies, easing a blanket restriction introduced in February to help shield the markets from bouts of volatility. MSCI Inc. warned last month that it