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Home ANALYSIS

Russian stock market may be closed, but ETFs are being marked sharply lower

A.R Chowdhury by A.R Chowdhury
February 28, 2022
Reading Time: 4 mins read
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Russian stock market may be closed, but ETFs are being marked sharply lower

Although the Russian  stock market 
Stock Market

A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still done through brokers and electronic trading platforms. What Makes Up the Global Stock Market?The stock market itself consists of a global network of stock exchanges, which most developed countries have access to. Presently there are over 60 such exchanges with a total market capitalization of over $70 trillion.The largest stock markets are the United States, Japan, and Great Britain, with numerous other exchanges worldwide following behind. Retail investors rely on the stock market for all their equity or share trading needs. This function has been assumed by online stock brokers, which have largely replaced the need for dealing with popularized trading floors for retail trading needs.A stock broker is an agent or intermediary between investors and the stock market. Stock brokers play an important role in online trading and have grown in scale and coverage in recent years.Stock brokers historically have charged for transactions and other services though crucially have shifted to commission-less transactions over the past few years after being disrupted by fintechs and other companies.

A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still done through brokers and electronic trading platforms. What Makes Up the Global Stock Market?The stock market itself consists of a global network of stock exchanges, which most developed countries have access to. Presently there are over 60 such exchanges with a total market capitalization of over $70 trillion.The largest stock markets are the United States, Japan, and Great Britain, with numerous other exchanges worldwide following behind. Retail investors rely on the stock market for all their equity or share trading needs. This function has been assumed by online stock brokers, which have largely replaced the need for dealing with popularized trading floors for retail trading needs.A stock broker is an agent or intermediary between investors and the stock market. Stock brokers play an important role in online trading and have grown in scale and coverage in recent years.Stock brokers historically have charged for transactions and other services though crucially have shifted to commission-less transactions over the past few years after being disrupted by fintechs and other companies.
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was closed today, Russian ETFs are trading and are marking down prices by 20% to 25%.

The Vaneck Russian ETF (RSX) is trading down around -24% at the moment at $12.04 after trading as low as $10.78. The low was the lowest level since 2009. The index is down over -67% from the October 26,2021 high at $33.39.

VanEck Russia ETF (RSX®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS®Russia Index (MVRSXTR), which includes publicly traded companies that are incorporated in Russia or that are incorporated outside of Russia but has at least 50% of their revenues/related assets in Russia

Vaneck

Vaneck Russian ETF

Meanwhile, the MSCI Russia ETF (ERUS) is also trading down sharply today. The index is currently trading down -19.82% and is down -62.54% from its 2021 high.

The iShares MSCI Russia ETF seeks to track the investment results of an index composed of Russian equities.

MSCI

MSCI Russian ETF

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Looking at the Russian ruble, the USDRUB, since its October 2021 low at 69.1735, the pair has risen 60.28% to a high of 110.94 today (the current price is at 105.95) and is up 23% on the day.

USDRUB

USDRUB soars

The Russian central bank raised rates to 20% from 9.5%, to try and stem the flow of funds out of the RUB.

The changes are certainly significant. It is hoped that the economic pressure, along with the Ukrainian fight (NATO pressure), will be enough to persuade Putin to pull back.

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A.R Chowdhury

A.R Chowdhury

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The NZD is the strongest and the EUR is the weakest as the NA session begins

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