Russian stock market shows significant volatility
Date
7/18/2024 4:51:20 AM
(MENAFN) On Wednesday, the Russian Stock market exhibited notable volatility despite a promising start, according to trading data. Initially, by 10:00 a.m. Moscow time (07:00 GMT), the MOIX index showed a modest increase of 0.62 percent, reaching 2,963.21 points, while the RTS index mirrored this gain, rising to 1,057.38 points, as reported by a news agency.
However, the market sentiment quickly shifted by 10:15 a.m. Moscow time, with the MOIX index decreasing by 0.08% to 2,942.38 points, and the RTS index similarly dipping by 0.06% to 1,049.91 points. This downturn underscored the inherent volatility and sensitivity to global economic factors influencing Russian equities.
Concurrently, the exchange rate between the Chinese yuan and the Russian ruble also witnessed movement. By the morning session on the Moscow Stock Exchange, the yuan appreciated by 1.4 kopecks, resulting in an exchange rate of 12,053 rubles. This exchange rate movement reflected ongoing dynamics in international currency markets, potentially influenced by broader geopolitical and economic developments impacting bilateral trade and investment between China and Russia.
The fluctuations observed in both stock indices and currency exchange rates highlighted the intricate interplay of domestic economic conditions, international market trends, and geopolitical factors shaping investor sentiment and market outcomes in Russia.
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