Tehran Stock Exchange plunges, baffling investors - Al-Monitor: the Pulse of the Middle East:
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| An Iranian official works at her desk in the main hall of the Tehran Stock Exchange, Aug. 3, 2010. (photo by REUTERS/Morteza Nikoubazl) |
The Tehran Stock Exchange (TSE) is making news in Iran for all the wrong reasons. It's falling, and fast. Its main index peaked at 89,500 points on Jan. 5 of this year. Then it started to fall. By Jan. 26, it had fallen to 81,905 points. At one point, its dive was described as "historic."
A loss of 7,595 points within three weeks (almost 7%) is a lot for any stock exchange, especially the TSE, one of the fastest rising in the world. In mid-August 2010, it crossed the 16,000 points threshold and that was considered major news. Now, despite the recent falls, its value is almost 400% higher than then.
What has been particularly amazing about the TSE is that over the last several years its rise has defied many laws of economic gravity.
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