Despite an alleged missile attack on its exchange building, Israel’s Tel Aviv Stock Exchange surged to a 52-week high on June 19, showcasing investor confidence and market resilience amid the ongoing Iran-Israel conflict.
The Tel Aviv Stock Exchange (TASE), Israel’s central securities exchange based in Tel Aviv, defied geopolitical pressure and surged to a 52-week high on June 19, despite media reports of an Iranian missile attack damaging the exchange’s building.
According to Al Jazeera, Iran launched 25 missiles in a fresh strike on Israel, one of which allegedly hit the stock exchange facility. Despite this, the TASE All Share index rose 0.5% to 2,574.89. The TA-35 and TA-125 indices also reached new highs at 2,810.85 and 2,850.08, respectively.
The Tel Aviv Stock Exchange (TASE official website) has shown remarkable strength since the Israel-Iran conflict began on June 13. The TA-125 index has climbed by nearly 5% in June, building on gains of 6.55% in May and 4.53% in April.
Meanwhile, the global stock markets reacted with caution to the escalation. European indices saw a three-day losing streak, with the STOXX 600 down nearly 2.5% week-on-week. U.S. S&P 500 futures fell 0.6%, while Hong Kong’s Hang Seng dropped 2%, and Taiwan’s index declined by 1.5%.
Indian equity markets, however, remained steady, with only a marginal dip of 0.05% during intraday trade.
While the Tel Aviv stock exchange continues to flash green, the broader picture remains tense as the Israel-Iran war enters its seventh day, and market participants globally remain on high alert.
