Shabtabnews In this dark night, I have lost my way – Arise from a corner, oh you the star of guidance.
RFL/RE – Data from the Tehran Stock Exchange shows that almost $120 million in capital has been withdrawn from the market in the past 10 days amid unrest that poses the deepest threat to the leadership of the Islamic republic since the revolution in 1979.
According to the EcoIran news website, which covers economic news in Iran, $28 million was pulled out of the Tehran Stock Exchange on October 29, the highest daily amount in the past five months.
Iran has seen daily protests since 22-year-old Mahsa Amini died on September 16 while in police custody due to an alleged dress code violation over how she was wearing a head scarf.
As the demonstrations broadened across the country, officials responded with a harsh crackdown that rights groups say has left more than 270 dead and seen thousands detained.
Since Amini’s death, TEDPIX, the main index of the Tehran Stock Exchange (TSE), has dropped more than 7 percent, while the $120 million that has left the TSE equals about 10 percent of the market’s total capital.
The Iranian government has presented a support package for the market in recent days, but it has not been able to stop the outflow of capital.
The protests are just the latest strife to hit the market this year.
The Tehran exchange has seen a downward trend since the middle of May when negotiations between Iran and global powers including France, Britain, Germany, China, and Russia to rescue a deal on Tehran’s nuclear program reached an impasse.
Robert Malley, the U.S. envoy for Iran who is involved in efforts to revive the 2015 nuclear deal, said on October 18 that talks to revive the Joint Comprehensive Plan of Action (JCPOA) are no longer on the agenda. The United States left the agreement in 2018 and since has imposed crippling sanctions on Iran.
German Foreign Minister Annalena Baerbock said on October 30 that there are currently no negotiations to revive the JCPOA between the countries and Iran.
