UPDATE 1-Israel approves switch to Monday-to-Friday trading on Tel Aviv Stock Exchange
Adds details
JERUSALEM, Dec 30 (Reuters) - Israeli Finance Minister Bezalel Smotrich said on Monday he would approve the transition to Monday-to-Friday trading on the Tel Aviv Stock Exchange (TASE) in order to align Israeli markets with international standards.
The change is expected to take effect at the beginning of 2026, however, and trading on Fridays will conclude at 2 p.m. local time to ensure that the Jewish sabbath can be observed.
Israel's stock trading days currently run from Sunday to Thursday.
"This move will make it easier for global investors to access the Israeli capital market, invest in our market without unnecessary barriers, and bolster the Israeli economy in the long term," Smotrich said in a statement.
Itai Ben-Zeev, the chief executive of TASE, said in transitioning to Monday to Friday trading will open the door to more international investment, enhance the appeal of Israeli companies and accelerate growth of the local capital market.
TASE has long hoped a decision to shift away from Israel's Sunday to Thursday work week to one that overlaps more with Wall Street and European bourses would win it inclusion in global index provider MSCI's Europe category.
MSCI in 2022 rejected shifting the country to a new region, citing differing market trading days as a key reason.
Israel's shekel currency is already traded on Fridays and more services keep running during the sabbath in Tel Aviv than in most other Israeli cities.
(Reporting by Maytaal Angel; Editing by Kevin Liffey and Angus MacSwan)
((maytaal.angel@thomsonreuters.com; 00442075429105 ;))
Related Articles
Worried About a Recession? 1 Healthcare Dividend Stock That Has Thrived In Every Market Crash
TradingKey - One of those sectors is healthcare and one of the biggest healthcare companies around is Johnson & Johnson (NYSE: JNJ), a company that also pays a decent dividend to shareholders.
Why Was Solana Chosen for the U.S. Cryptocurrency Strategic Reserve? What Is SOL's Future Outlook?
This article explores Solana's technical strengths, use cases, market performance, and future trends to provide a comprehensive understand SOL's potential and investment opportunities.
1 Defensive Dividend Stock to Buy With Plenty of Fizz in a Volatile Market
TradingKey - If you’re feeling uneasy about the recent market turbulence, you’re not alone. Wall Street markets have cratered and are now currently in correction territory. Uncertainty is running high and it’s easy to see this selling getting worse before it gets better.
An Overview of U.S. Government Shutdowns: Causes and Consequences
TradingKey - A government shutdown is a uniquely American political event. After former President Donald Trump orchestrated the longest and most costly government shutdown in history during his first term, the risk of another shutdown has resurfaced at the start of his second term.
Adobe Q1 2025 Earnings Review: Core Business Resilient, but AI Integration Path Needs Clarification
TradingKey - Adobe's Q1 results confirmed the resilience of its core business, but Investors expect Adobe to clarify its long-term path of AI Integration. The market is worried that AI tools(such as Canva and MidJourney) are weakening Adobe's pricing power. It is recommended that investors should...