Market expert pessimistic about Iran’s equity market (exclusive)
Baku, Azerbaijan, Aug. 30
By Farhad Daneshvar – Trend:
Although Iranian officials have attempted to lure foreign investors to the country’s equity market, a Tehran-based market expert has expressed pessimistic views over the future of the capital market, blaming financial policymakers.
Hamid Mirmoeini told Trend that the financial policymakers in order to lead the country out of the deep recession need to come up with firm plans.
Criticizing the financial policy makers over shortcomings within the capital market, the expert accused the officials of failing to draw up long-term plans to boost the economy.
He called for orchestrated actions between Iranian authorities and said that the poor coordination between decision makers in the country has worsened the situation.
He expressed pessimistic views over the future of the capital market, blaming the shortage of proper investments in the country's economy.
The Tehran Stock Exchange accelerated its upward trend over the past week, with the main index advancing 1.43 percent reaching 83252 points.
A group of market observers suggest that the surge in the main index cannot demonstrate the reality of the market due to alleged market manipulations.
However, the TSE says that the value of transactions carried out by foreign investors in Tehran Stock Exchange during the four months into the current Iranian fiscal year (since March 21) rose by 47 percent compared to the same period of the preceding year.