Market Underperformance Driven by Negative Sentiment over Judicial Impact, TASE Warns

Trading on the Tel Aviv Stock Exchange (TASE) has been negatively impacted by investor uncertainty and fear surrounding the planned judicial overhaul in Israel, according to the country's bourse. The CEO of the TASE, Ittai Ben-Zeev, warned that the exchange's leading indices have underperformed compared to global stock indices, IPOs have ground to a halt, and capital raising by public companies has dropped significantly. Ben-Zeev urged the Israeli government to take action to restore trust, stability, and certainty in the local capital market. The warnings come amid concerns that the proposed changes to the country's judicial system will cause irreversible economic and social damage.