BAKU, Azerbaijan, Feb. 8
Trend:
No one should politicize the capital market, the Iranian Minister of Economic Affairs said.
"The stock market will not be harmed by the revival of the JCPOA because it leads to an increase in the exports will and decreases the financial transaction costs,” Iranian Minister Farhad Dejpasand said referring to the impact of returning to JCPOA on the capital market, Trend reports citing ILNA.
Dejpasand said that he expects that the cost of transactions will be reduced by one-fifth after returning to JCPOA.
He emphasized that the ministry of economic affairs has nothing to do with the stock market fluctuations and the devaluation of people's assets.
"The stock market has the capacity of a medium-term and long-term investment," he said. "From August, the stock market`s index dropped to 1.2 million points, and after that it raised to 1.5 million points. These fluctuations are normal."
By May 2020, TEDPIX, the benchmark index of the Tehran Stock Exchange (TSE), surged past one million points for the first time ever.
Investment veterans and others warned the market was overheating. But the meteoric rise continued. By August, TEDPIX crossed the two-million-point threshold.
Then the bubble burst. The TEDPIX is now hovering around the 1.29-million-point mark – more than 37 percent off its August high. During the ensuing selloff, the index experienced its largest one-day drop ever.