Tel Aviv, June 19 : Despite escalating tensions and reports of a missile attack from Iran, the Tel Aviv Stock Exchange (TASE) surged to a 52-week high, showcasing unexpected resilience in the face of geopolitical instability.
Israel-Iran Conflict: Stock Market Defies War Tensions
Amid ongoing conflict between Israel and Iran, the Israeli stock market has continued its bullish trend. On June 19, the TASE All Share Index rose by 0.5%, hitting 2,574.89-its highest point in the past year. Major indices TA-35 and TA-125 also reached new peaks at 2,810.85 and 2,850.08, respectively.
This comes just hours after Iran reportedly launched 25 missiles, damaging several locations including the Tel Aviv Stock Exchange building, according to Al Jazeera. Despite this direct threat, investor sentiment remained positive, with local equities continuing to attract buyers.
TA-125 Index on Upward Trend Since War Began
Since the official start of the Israel-Iran war on June 13, the TA-125 index has gained approximately 5%. The upward momentum continues a broader bullish trend, with a 6.55% gain recorded in May and a 4.53% rise in April.
Missile Strikes Confirmed: Israeli Leadership Vows Retaliation
AFP confirmed that multiple Iranian missiles struck targets across southern and central Israel, including Soroka Hospital in Beersheba and towns near Tel Aviv. In response, Prime Minister Benjamin Netanyahu vowed that Iran would “pay a heavy price.” Defense Minister Israel Katz has instructed the Israeli military to escalate its retaliatory operations.
Sirens sounded nationwide early Thursday as Israeli defense systems responded to the incoming missile barrage. Loud explosions were reported in Tel Aviv and Jerusalem, heightening public anxiety.
Global Markets React to Iran-Israel War
While Israel’s stock market remained in positive territory, global financial markets reflected growing investor concerns:
- European stock markets declined for the third consecutive day, with the STOXX 600 index falling nearly 2.5%-marking the steepest weekly drop since April.
- In the U.S., S&P 500 futures dropped 0.6%. U.S. financial markets were closed for a public holiday.
- Asian stock markets also suffered: Taiwan’s index dropped 1.5%, and Hong Kong’s Hang Seng Index lost 2%.
- Indian stock markets showed relative stability, down just 0.05% in afternoon trade.
