Russia's stock market reopens after month-long closure
cnn.com
cnn.com
> The benchmark MOEX index surged by as much as 10% in early trading. The index was up roughly 5% in afternoon trade in Moscow. Here's why: Russia's stock market isn't operating under normal rules. The central bank has blocked foreign investors from selling their shares and banned short selling. Only 33 stocks were allowed to trade on Thursday. Context: Foreign funds held more than 80% of shares trading on the Moscow Exchange in the first half of 2021, according to Reuters.
> "Russia has made clear they are going to pour government resources into artificially propping up the shares of companies that are trading," deputy national security adviser Daleep Singh said in a rare White House statement on another country's financial markets. "This is not a real market and not a sustainable model — which only underscores Russia's isolation from the global financial system," added Singh.
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