Comatose for most of the week, Tehran stocks took a hit on Wednesday as the prospect of a full-scale global trade war drove panicked investors into a selloff.
A heavyweight petrochemical initial public offering the same day also came under fire, as investors believed it intensified the market’s losing momentum.
In fact, the wave of negative factors proved to be so overwhelming that certain positive developments, such as a tax cut for stock trading and exemption for capital increase, as well as the official launch of a secondary foreign exchange market, failed to boost the market's sentiment.
Overall, TSE's all-share index TEDPIX shed 2,985 points or 2.7% during the week that ended on July 11 to close at 109,501.
July 13, 2018 18:20
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US-China Trade War Worries Push Down Stocks in Iran
TSE’s all-share index shed 2,985 points or 2.7% during the week that ended on July 11 to close at 109,501, as Iran Fara Bourse’s benchmark index lost 27.04 points or 2.1% to stand at 11,225.79
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