In its most recent issue, published today, British economic magazine “The Economist” ranks the Tel Aviv Stock Exchange (TASE) and the Israeli capital market among the 10 most promising of 25 emerging markets around the world.
”The Economist” notes that the stock exchanges in the 10 most promising markets, including Israel, has posted sharp rises in returns and trading turnovers since June, indicating their positive potential. The Standard & Poor’s 500 index fell in the same period.
In addition to Israel, “The Economist’s” 10 most promising list of stock exchanges were included Taiwan, South Korea, South Africa, India, Brazil, China, Malaysia, Mexico, and Russia. The steepest and most impressive rise was in China, where the stock exchange has been rising continually since early 2001.
The turnaround on the other stock exchanges, including the TASE, began in June. “The Economist” noted that since that time, the Tel Aviv 25 index is up 19%, and the Tel Aviv 100 25%. “The Economist” also predicted that the Israeli economy was on the verge of recovery, and that growth would rise from 0.8% this year to 2.5% in 2004.
Published by Globes [online] - www.globes.co.il - on September 21, 2003