Sharp Gains in Tel Aviv: TA-35 Index Jumps Over 2%

Sharp gains were recorded on the Tel Aviv Stock Exchange on Thursday morning, with the benchmark TA-35 index climbing by more than 2%, outlets Globes and Calcalist reported. The rally was led by semiconductor and insurance shares, while government bond yields continued to decline.

Trading was supported by favorable domestic inflation figures released yesterday in Israel, alongside a recovery across semiconductor stocks in Asia and futures in New York. According to Globes, remarks by the Federal Reserve chair at an International Monetary Fund conference also drove a sharp drop in expectations for US interest rate hikes.