Russian stocks seen falling on signs of US stimuli curtailment

MOSCOW, Jul 9 (PRIME) -- The Russian stock market will likely continue a downward correction on Friday at opening on renewed markets fears about an upcoming curtailment of the U.S. economic stimulation programme, analysts said.

"Correction in a wide range of securities may continue… The MOEX Russia Index corridor guidance amounts to 3,800–3,850," Georgy Vashchenko, head of Freedom Finance’s department for trade operations on the Russian stock market, said.

Alor Broker senior analyst Alexei Antonov said that correction set on the global markets on Thursday as investors saw signs of an upcoming curtailing of the U.S. economic stimuli in the minutes published by the U.S. Federal Reserve System (Fed). Besides, Japan declared emergency due to the coronavirus.

Antonov said that the Russian market lost 0.9% on Thursday but the blue chips traded differently, which means that there are no signs of a large-scale investor flight from the ruble-denominated securities, and the decline would not last long and would not be deep.

End %%mk/jst%%