If at first you don't succeed (with central bank intervention), blame speculators and ban short-selling of stocks...
Turkey is following the global central planning textbook. Having tried to stabilize the lira, blamed Trump (and the rest of the world for its economic crisis), Turkish authorities have just extended the newly-implemented 'uptick rule' to the broad BIST-100 index of companies.
As Bloomberg reports, the uptick rule initiated in May, which was applied on short selling of shares except BIST-100 shares and investment fund participation certificates, will also be applied on short selling of BIST-100 shares starting Aug. 14, Borsa Istanbul says.
From 14/08/2018, all sales in the BIST 100 Index, including all open sellable shares, can be carried out at a higher price than the most recent transaction price of the capital market instrument subject to open sales. However, if the most recent price of the capital market vehicle which is subject to sale is higher than the previous price, the sale can be made at the latest price level.
Borsa Istanbul says it will take all measures “against market abuse.”
Borsa İstanbul A.Ş. we will make every effort to ensure that our markets operate in an effective, reliable and transparent environment and that we will take all necessary measures against market interventions on time and with determination, and will carry out the necessary examination and audit activities within the scope of the legislation.