Business And Markets

TSE Rescinds Trade Timing Decision

TSE Rescinds Trade Timing Decision TSE Rescinds Trade Timing Decision

The Tehran Stock Exchange decided Thursday to restore the previous trading hours apparently after reports that the temporary changes in trading hours had a negative impact.
The regulator announced on August 7 that is was making changes to the trading hours to help ease pressure on the trading platform.  
Changes came into effect last Monday with trade split into two sessions. In the morning small cap shares, shares of banks, minerals and auto companies were traded (8:30-11:45 am). Base metals, refineries and investment companies traded in the afternoon (12:00- 03:15 pm). 
Before trading hours started from 9:00 am to 12:30 pm. 
However, the regulator reversed the decision after investors complained that trends in one round of trade impact the other. 
TSE lost more than 11% during the last trading week as shares of majority of listed companies plunged.
“Splitting stock market trade into two sessions is dangerous… the first session can send a signal to the second,” Hamidreza Danesh Kazemi, head of the Securities and Exchange Brokers Association was quoted as saying by the Persian-language news website eghtesadnews.  

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