Turkish Stocks Eye Best January Since ‘97 as Cash Pours In

Turkish stocks are poised for their best January in 29 years as the wave of optimism around emerging markets and cheap valuations lure foreign investors back into the market.

The Borsa Istanbul 100 Index has climbed 21% so far in January in dollar terms, its best performance since 1997. Even after the rally, the shares trade at a steep valuation discount to other emerging-market stocks on a price-to-estimated earnings basis.