Israeli stock market declines amid escalation in Gaza
The Israeli stock market continues to decline as the military campaign in Gaza intensifies, Kazinform News Agency reports.
At the close of trading on September 16, the benchmark Tel Aviv 35 index (TA-35) stood at 3,054.16 points, down 0.13 percent. During the day, the index fluctuated between 2,988.03 and 3,064.95 points. Trading volume exceeded 30.3 million shares, compared to a three-month average of 28.5 million.
The decline extended a recent downward trend driven by investor concerns over the protracted military operation in Gaza. Business leaders and analysts note that the conflict is directly affecting the economy by fueling political polarization, accelerating capital outflows, and undermining Israel’s international standing.
Over the past week, the TA-35 lost 2.54 percent. The index comprises 35 of the largest companies listed on the Tel Aviv Stock Exchange.
Earlier, it was reported that Luxembourg announced on Tuesday plans to join other countries in recognizing the State of Palestine during next week’s United Nations General Assembly session in New York.