Tel Aviv Stocks Open Higher on Global Tech Rally, Bitcoin Surges Past $85,000

The Tel Aviv Stock Exchange returned from a two-day holiday to a shortened trading week, backed by positive global momentum. Wall Street indexes recorded strong gains, driven by the tech sector and artificial intelligence. In Asia, markets traded mostly higher, led by South Korea and Hong Kong, following new tech announcements and corporate developments.

Dual-listed stocks returned to Tel Aviv with significant gaps, led by Tower Semiconductor with a positive arbitrage gap of 9%, Nova, and Camtek. Meanwhile, the U.S. Federal Reserve's recent rate hike pushed 10-year government bond yields closer to 5%, reflecting a delayed correction to monetary policy amid persistent inflation pressures.

In the foreign exchange and commodities markets, the shekel traded stably at around 3 shekels per dollar, while oil prices rebounded slightly following a sharp drop. Bitcoin surged by over 5%, crossing the $85,000 threshold to reach its highest level in nearly eight months, supported by growing institutional demand and regulatory developments.

Looking ahead, investors are closely watching geopolitical developments, including U.S. President Donald Trump's upcoming meeting with Chinese President Xi Jinping in Washington. While macroeconomic data releases continue globally and locally, markets are entering a historical strong seasonal period for equities, though monetary tightening risks remain a focal point for the final quarter.