2023-08-17 00:07:00
Shares of Russian companies are declining due to the increase in the key rate. This was stated in a conversation with URA.RU by the president of the Moscow Partners investment group, professor at the Faculty of Economic Sciences at the Higher School of Economics Evgeny Kogan.
“The stock market is declining for two reasons. First, a high rate is not very good for the stock market. Secondly, the stock market grew very strongly, its correction is objectively overdue. We also remember that the shares of exporters grew very well after the devaluation took place. Everyone bought shares of exporters as protection against devaluation. Naturally, the ruble is now strengthening a little, it is clear that people are selling shares of exporters. I think this is nonsense, stupidity. It doesn’t matter if we have a dollar of 101 or 95, the profit of exporters will not change much, it will still be high,” Kogan said.
Buying shares, in his opinion, is now worth it only for the long term. “The issue of buying shares in this situation rests on for what period of time. If you buy for six months or a year, then it’s worth it. If for today or tomorrow, then no one can know this, ”the financial analyst is sure.
Previously The Central Bank unscheduledly raised the key rate to 12% to reduce inflationary risks and maintain price stability. However, this will not help depreciate the dollar. For this, it is necessary that exporters make more foreign exchange earnings on the Russian market, said Alexei Zubets, director of the Institute for Socio-Economic Research of the Financial University under the Government of the Russian Federation.
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