Iranians Pile Into Stocks as Nuclear Deal Spurs 133% Gain
For evidence of how Iranians are embracing President Hassan Rouhani’s pledge to re-establish ties with the world economy after decades of crippling sanctions, take a look at the Tehran Stock Exchange.
While daily trading equals only about 22 seconds worth of stock transactions in the U.S., Iran’s market has been booming. The benchmark index soared 133 percent this year through Dec. 24 to a record, beating returns posted by the 93 major global equity gauges tracked by Bloomberg. Most of the rally followed the June election of 65-year-old Rouhani, who delivered an initial accord with global powers just five months into office.
One morning last week, a 23-year-old college graduate named Samira was standing with hundreds of others inside the bourse in downtown Tehran, preparing to plunk down $600 in her first investment in the market. As stock prices flashed on screens one flight above the trading floor, Samira said she was excited to buy her first shares, something she never would have considered under Rouhani’s predecessor, Mahmoud Ahmadinejad.
“I like the feel of this -- it has a buzz,” said Samira, who declined to give her surname for fear of reprisals for talking to foreign media reporters. “Anyone you speak to these days will tell you the stock exchange is the best place to invest right now.”
Leaving Gold
Iranians are pulling out of assets that had become the conventional stores of wealth in the Islamist Republic -- gold, dollars and real estate -- to free up cash to invest in the stock market, according to Tehran-based investment boutique Turquoise Partners. While foreigners can invest on the 314-stock bourse, an international investor can’t buy more than 10 percent of a company’s shares and any involvement is limited by banking restrictions, according to Turquoise.
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http://www.bloomberg.com/news/2013-12-25/iranians-pile-into-stocks-as-nuclear-detente-triggers-133-rally.html
Mark my works the neocons/zionistas have no boundaries when it comes to scuddling any agreements with Iran.
