Russia Puts Floor Under Stock Market Selloff as Trading Resumes
- Foreigners banned from selling as market reopens after closure
- Share of individual investors in today’s trading was 58%: MOEX
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Russian government intervention to prop up the stock market helped prevent a renewed selloff in shares on the first day of trading following a record month-long shutdown of the equity market.
The MOEX Russia Index ended the shortened session up 4.4% on Thursday, as the country took measures including preventing foreigners from exiting local equities and banning short selling to avoid a repeat of the 33% slump seen on the first day of the Ukraine invasion. The benchmark had fallen 30% in February before the suspension of trading from Feb. 28.