Russian stocks may correct down again amid negative global environ

MOSCOW, Jan 28 (PRIME) -- Downward correction may continue on the Russian stock market on Thursday following discouraging external sentiments, analysts said.

“We expect correction (on the Russian stock market) to continue. The U.S. stock indices are seen in the negative territory despite corporate reports and persistence of the monitory policy’s short-term guidelines,” Georgy Vashchenko, head of investment company Freedom Finance’s department for trade operations on the Russian stock market, said.

The MOEX Russia Index will be trading within the 3,300–3,350 range, he added.

Andrei Vernikov, deputy CEO for investment analysis of Zerich Capital Management, said that Asian markets are also in the red territory with China’s major index seen close to its 3-week lowest, which will pressure local stocks at the opening.

Investors will also track publications of gross domestic product (GDP), retail sales, unemployment, and production figures in Russia for December and the entire 2020.

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