Russian stock indices rise as Moscow Exchange main session closes
Both the ruble-denominated and dollar-denominated benchmarks advanced, while the yuan firmed slightly against the ruble.
Russian stock indices closed higher as the main trading session ended on the Moscow Exchange, according to exchange data.
The gains came alongside a modest move in the currency market, where the yuan exchange rate rose by 10 kopecks to 12.7 rubles. The yuan has become an increasingly closely watched currency on Russian markets since access to dollar and euro trading was curtailed by Western sanctions following the invasion of Ukraine.
Trading on the Moscow Exchange has continued to function as a key barometer of domestic investor sentiment, even as the exchange remains largely cut off from major international markets. Local investors, including retail traders, now account for a significant share of daily turnover.
Currency markets in focus
The yuan's role in Russian markets has grown steadily as trade with China has expanded and as the ruble's peg to Western currencies has become less relevant to everyday trading. Movements in the yuan-ruble rate are now tracked closely as a proxy for broader currency sentiment.
Exchange officials did not attribute the day's gains to any single catalyst in the reported summary of the session, and no forward guidance on market direction was included.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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