Russia plans to reopen its stock market for limited trading on Thursday, nearly one month after shares plunged and the exchange was shut down following the...
NEW YORK — Russia plans to reopen its stock market for limited trading on Thursday, nearly one month after shares plunged and the exchange was shut down following the invasion of Ukraine.
There will be heavy restrictions on trading intended to prevent the kind of massive selloff that took place on Feb. 24 in anticipation of crushing financial and economic sanctions from Western nations. When Moscow’s market reopens, trading will be limited, and investors’ true sentiment could be difficult to judge.
The average exposure by a U.S. investor through a mutual fund or retirement account to Russia is exceedingly small, according to Ben Johnson, director of global ETF research at Morningstar. It took nearly a month for Russia’s central bank to relaunch trading in local government bonds, denominated in rubles. Average Russians do trade in in Russian stocks, however. Russian’s Central Bank estimated that roughly 7.7 trillion rubles, equal to roughly $79 billion, of Russia’s stock was owned by retail investors as of late 2021.
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