Bank of Israel foreign demand of hundreds of millions of dollars in an attempt to moderate the decline • Manufacturers: Government must intervene more • The TA 125 index is 7.6% lower than in January
Banknotes of dollars
Photography:
Reuters
Reports of the spread of vaccines against the corona during the current month have not helped the markets this week, and the Tel Aviv Stock Exchange ends the week with declines of up to 3.8% in the leading Tel Aviv indices.
However, yesterday there were increases of up to 0.82%.
The TA 35 index is 14% far from its price since the beginning of the year, before the corona era. The TA 125 has fallen by 7.6% since January.
The SME60 index, which includes the 60 stocks with the highest value of public holdings on the stock exchange among the shares not included in the Tel Aviv 125 index, experienced a slight decline this week but has risen by 5.7% since the beginning of the year.
Tel Aviv-Biomed, the center of shares of companies engaged in research and development in the field of life sciences, biotechnology, pharmaceuticals and medical devices, has jumped almost 20% in the last 11 months. Tel Aviv-Elite, the center of high-tech shares, has already risen More than 34% since the beginning of the year.
Price declines also characterized government and corporate bond indices, at slight rates of less than 1%.
The dollar continues to fall
In the U.S., trading began yesterday with price increases of up to 0.57%, despite new morbidity peaks in the country.
The US Congress also approved measures against China, in the form of "marking" Chinese companies on Wall Street that are required to report on their compliance with Western accounting criteria and on the question of whether the Communist Party is involved in the company's board of directors.
European indices have declined across all indices - with the exception of the British Pottery.
The dollar continues to weaken, recording 0.24% against the shekel, trading at NIS 3.27 yesterday - despite reports that the Bank of Israel has intervened in the market and generated demand of hundreds of millions of dollars to prevent an even sharper deterioration of the dollar.
This is a negative record of more than a decade, since the last time the dollar fell below NIS 3.3 when it was traded on July 23, 2008. President of the Manufacturers Association, Dr. Ron Tomer, called on the government to intervene in the market to further weaken the shekel in favor of exporters. "I do not know how to handle the dollar exchange rate, it must be demanded that it alleviate the shekel costs of the exporters - exemption from property taxes, lowering employers' taxes for exporting companies and other reliefs, at least until the dollar exchange rate reaches a certain level," said Tomer.
At the same time, Bitcoin is once again nearing its peak, trading at $ 19.3 thousand per unit as of last night - an increase of almost 14% in the last week.
Other currencies recorded an even sharper jump - led by Lightcoin (25%), Ripple (23%) and Etherium (20%).