MOSCOW (Reuters) – The Moscow Stock Exchange plans to restart the evening session on its stock market in September, the head of its stock market department said on Thursday, as Russia’s biggest stock exchange considers a gradual return to normal.
Trading in the shares was halted on the Moscow stock exchange for nearly a month from February 25, the day after President Vladimir Putin sent troops to neighboring Ukraine, prompting Western sanctions aimed at economically isolating the Russia, then Russian countermeasures.
Boris Blokhin, head of the stock market department at the Moscow Stock Exchange, told reporters that the resumption of overnight trading in derivatives has proven to be quite positive, meaning that a similar step may soon be taken with equities.
“The most liquid instruments will be traded, first of all, stocks on the Moscow Stock Exchange index,” Blokhin said. “We plan to launch an evening session in September.”
The evening session on Moscow Exchange starts at 1600 GMT and ends at 2050 GMT. The main trading hours are between 07:00 and 16:00 GMT.
The stock market is gradually returning to normal, but all its efforts for a smooth resumption of activity have not been crowned with success.
Despite reopening trading doors to some foreign investors in August, Russia’s central bank thwarted plans to resume trading on the Moscow stock market by nationals of “friendly” countries, as it wanted to prevent any investors from ” hostile” to take advantage of it.
Russia considers countries that have imposed sanctions as “unfriendly”.
As a result, clients in “friendly” jurisdictions were only allowed to resume derivatives trading, with shares not expected to return until 2023.
(Reporting by Alexander Marrow; editing by Jonathan Oatis)
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