Turkish military electronics firm’s success a sign of growing China integration
Shares of Aselsan up nearly 200% in the past year, benefiting from China presence
Turkey’s military electronics manufacturer Aselsan was the top performer in today’s Istanbul market rally, with a 5% gain on news of an unspecified foreign contract. Aselsan is up nearly 200% in the past year, the top performer but one (a mining company) in the Istanbul 30 Index.
Aselsan’s stock surge reflects the growing integration of Turkey’s economy into China’s regional ambitions. Last May it reportedly was awarded a contract to build weapons pods for Chinese-designed fighters manufactured by Pakistan under Chinese license.