Russian Stock Market Closed Due to Ukraine Invasion, Reopens with Over 30% Plunge
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[Asia Economy Reporter Lee Hyun-woo] The Russian stock market, which had temporarily suspended trading following Russia's full-scale invasion of Ukraine, reopened after two hours. Immediately after opening, the Russian stock market continued to plunge by over 30%.
On the 24th (local time), according to Russia's TASS news agency, the Moscow Exchange (MOEX) announced that "trading will resume from 10 a.m. (4 p.m. Korean time)." Earlier, around 8 a.m., MOEX had announced the complete suspension of all trading "until further notice" following the Russian government's announcement of the invasion of Ukraine, and had fully closed the stock market.
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The RTS Index, Russia's representative index, recorded 800.21 points immediately after reopening, down 33.54% from the previous close, continuing its steep decline. Amid strengthened economic sanctions by the U.S. and the West and concerns over war damages, there are fears that the downward trend will continue.
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