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The central bank loosened access to lira liquidity and prosecutors were asked to investigate suspected manipulation, while a state-owned bank opened talks to buy savings-finance companies linked to the turmoil.","JOHN PAUL RATHBONE-ISTANBUL  \nTurkish authorities have frozen tradingin funds run by seven asset managersand ordered 130 funds to be liquidatedas part of efforts to contain the falloutfrom a speculative bubble that hasshaken the Istanbul stock market andthreatened the savings ofinvestors.  \nThe central bank loosened access tolira liquidity to prevent forced selling,while the capital markets regulatorreferred 38 people to prosecutors oversuspected market manipulation.Astate-owned bank also opened talks tobuy two savings-finance companieslinkedtotheturmoil.  \nThe market shakeout comes at anawkward moment for Turkey,which istrying to rebuild its international eco-nomic credibility under a stabilisationprogramme led by finance ministerMehmet Simsek,a former Merrill Lyncheconomis and strategist.  \nTurkey's benchmark BIST 100 stockindex,which fell combined 8per centon Tuesday and Wednesday,reboundedas much as 2.5per cent in early tradingyesterday following the measures,beforelater paringsome gains.  \n\"The problem is concentrated in aspecificsegmen ofthe fund market andis temporary and manageable innature,\"Turkey's Financial StabilityCommittee said after an emergencymeeting yesterday,adding the mainfocuswas“preventingcontagionrisk”.  \nThis week's sell-off was triggeredwhen leading Istanbul fund managerPusula Portföy said some of its fundscould notmeet redemption payments to  \nAlarmed retail investors rushed to  \nSummer drought friesEuropean potato farmers  \nChips are down>PAGE2  \n\n| China   | RMB30   |\n| --- | --- |\n| Hong Kong   | HKS33   |\n| India   | Rup220   |\n| Indonesia   | Rp45000   |\n| Japan   | ¥6500ncJCT)   |\n| Korea   | W4,50   |\n| Malaysia   | RM1150   |\n| Phipines   | Pes0140   |\n| Singapore   | 55580(in GST   |\n| Taiwan   | NTS140   |\n| Thailand   | Bhr140   |\n\nSubscribe In print and online  \nFINANCIALTIMES  \nFRIDAY 18 SEPTEMBER 2026  \n# MedicalAlhype meets the messy real world\n\nMega-donors mask a deeper British malaiseROBERT SHRIMSLEY,PAGE 17  \nTurkey racesto stem falloutfrom run onmarket funds  \n# Star power Carney addresses EU after Trumpvents anger over Canadian partnership drive\n\nBriefing  \nWallStreetfears tradingboom is starting to falter  \nBanking executives have warnedtha the outsized tradinggains  \nthat boosted lenders'proits in  \nthe second quarter of this year  \nare unlikely to be repeated,in a  \nsign that the marketsboom maybe losing steam.-PAGE6  \nEU seeksChinaEV dealBrussels has asked Beijing to  \nrestric sales of Chinese-made  \nhybrid vehicles to about 15per  \ncent of the EU market,from athird today,as part ofa deal to  \nprevent a trade war.-PAGE2  \n▶OpenAI reveals incidents  \nThe company has revealed thatits flagship ChatGPTAI model  \nand others have engaged in  \n“unexpectedor concerning”behaviour over the past six  \nwithdraw their savingsin what analysts  \ncalled a\"fund run\",  \nmonths.-PAGEB;OPINION.PAGE17  \nAsecond fund management group,Tera Portfoy,said two of its funds hadbeen unable to make redemption pay-ments ontime,while athird,Atlas Port-föy,extended the time investors mustwait to redeem funds.Assets managedbythe threegroups total about $29bn.  \n▶Pakistan in drone talks  \nPowerus,a drone maker backed  \nby two of Donald Trump's sons,has said it isin negotiations to sell  \nthe military technology toIslamabad and reduce Pakistan's  \nreliance on China.-PAGE3  \nTurkey's financial authorities appearto be taking a three-pronged approach  \n## Deutsche fraud case\n\nFirst,the central bank eased lendingand collateral requirements so thatTurkish financial institutions hadample access to liquidity.Second,theCapital Markets Board,or SPK,haltedbuying and selling of funds run byinvestment groups Tera,Pusula,Hedef,Atlas,A1,Pardus and Bulls Portföy.  \nAn ex-Deutsche Bank private  \nbanker has been given a two-year  \nsuspended jail sentenceafter  \nexploiting weak internal controls  \nto embezzle more than C600,000  \nfrom its wealthy clients.-PAGE8  \nHSBC axes schoolperkThe UK bank has said i is ending  \nThird,authori","cbCairSe6DISq465","https://ap.wps.com/l/cbCairSe6DISq465","pdf",33593563,45,18,"English","en",105,"# Turkey racesto stem fallout from run on market funds\n## Emergency measures by Turkish authorities\n## Main drivers of the sell-off\n## Market response and policy actions\n## Related international items","[{\"question\":\"What actions did Turkish authorities take regarding market funds?\",\"answer\":\"They froze trading in funds run by seven asset managers and ordered 130 funds to be liquidated as part of efforts to contain the fallout.\"},{\"question\":\"How did Turkish policymakers respond to prevent broader damage?\",\"answer\":\"The central bank loosened access to lira liquidity to prevent forced selling, while regulators referred suspected manipulation to prosecutors.\"},{\"question\":\"What triggered this week's sell-off in Istanbul fund markets?\",\"answer\":\"A leading Istanbul fund manager, Pusula Portföy, said some of its funds could not meet redemption payments, prompting retail investors to rush to withdraw savings.\"}]","Financial Times - 18 September 2026 - Turkey races to stem fallout from run on market funds | 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