The Turkish lira weakened and the main stock index fell on Wednesday on concerns over the country's first confirmed coronavirus case, but shares in some sectors rose as investors expected some companies to benefit.
The lira stood at 6.1885 against the dollar at 1339 GMT, some 0.35% weaker than a close of 6.1575 on Tuesday. It had briefly hit 6.2025, its weakest in a week. The shares of soccer clubs slipped on prospects of match disruptions. Fenerbahce was down 11.2% while peers Galatasaray and Besiktas plunged 13.6% and 14.4% respectively.
The global spread of the virus since it emerged in December has caused authorities to cancel flights, events and conferences while they try to protect the economy. The main BIST100 share index was dragged down by 1.9%, while the banking index was down 1.6%. Shares of pharmaceutical manufacturer Deva Holding were up 19.66% while Selcuk Ecza, a pharma distributer, climbed 18.4%.
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