Title : Russia's Stock Market Is Booming
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Russia's Stock Market Is Booming
The main ruble-denominated index on the Moscow Exchange reached the 3,700-point level for the first time ever on Monday, as global oil prices continue to climb.
The ruble-traded MOEX index was up nearly 0.7% on Monday afternoon and stood at 3,708 points as of 11:55am GMT. Earlier in the day, the index, which covers stocks of major Russian companies listed on the Moscow Exchange, hit a new all-time high of 3,711 points.
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WNU Editor: What is remarkable about this stock market rise is that unlike countries like the U.S., Canada, and a few EU countries, the Russian government is not pursuing a fiscal and monetary policy of almost zero interest rates and the mass printing and distribution of "helicopter money".
this stock market rise is due to tax cuts, budget surpluses, deregulation, while being blessed with an increase in oil prices. And all of this happening with Western sanctions and other business restrictions targeting Russian businesses and businessmen.
You can check out the Russian markets here .... Moscow Exchange.
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