Turkish Opposition Leader Warns ‘Inflated’ Stocks Pose Threat

(Bloomberg) -- Turkey’s main opposition leader warned that “inflated values” on the country’s stock exchange pose a risk for retail investors.

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“You’re entering the stock market to protect your savings from inflation, but the real bait is in those inflated values,” Kemal Kilicdaroglu said via Twitter on Friday. “They are preparing to rob small investors.”

Kilicdaroglu, one of the top contenders in the race for presidency next year, said the markets regulator and the management of Borsa Istanbul would be “called to account” for not safeguarding investors. He didn’t provide further details of the alleged threat.

Domestic investors, seeking to protect their savings from soaring inflation, have helped push up the main Borsa Istanbul-100 index by 144% in local currency terms this year. In dollar terms, the gain has been 73%, making it the best performing stock index tracked by Bloomberg.

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