Priyanka Tiwari
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Suspense crime, Digital Desk : In a dramatic escalation of the conflict, reports and unverified images are circulating that an Iranian missile or drone may have struck near the Tel Aviv Stock Exchange (TASE), the very center of Israel's economy.
While the full extent of the damage remains unclear, the symbolic and economic significance of targeting a nation's financial hub cannot be overstated. The TASE is the engine of Israel’s capital market, home to its biggest companies and a barometer of its economic health.
Here’s what you need to know about this crucial institution now in the spotlight:
What is the Tel Aviv Stock Exchange?
Established in 1953, the Tel Aviv Stock Exchange is the sole public stock exchange in Israel. It hosts around 550 listed companies, including major tech firms, banks, and industrial giants, with a total market value approaching $300 billion. Its main benchmark, the TA-35 index, tracks the performance of the country's 35 largest public companies, much like the Dow Jones or S&P 500 in the United States.
A Unique Trading Week
Uniquely, the exchange operates on a Sunday-to-Thursday schedule, aligning with the Israeli work week. This often gives global investors an early look at how markets might react to weekend geopolitical events before exchanges in New York or London open on Monday.
Under Pressure from Conflict
The exchange has already been under immense pressure since the conflict began last October, experiencing significant drops before showing some resilience. A direct or near-direct hit on its headquarters would be a severe blow, certain to create fresh waves of anxiety among investors and test the stability of Israel's economy in the days ahead.
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