On Tuesday, the UX Index gained 6.53 points, which is equivalent to 0.47%. It would seem that growth for the third day in a row is a good result for the market, which, since the beginning of December last year, has been on the outskirts of financial civilization. However, the Index’s growth dynamics yesterday were due to a single stock, the flagman of the Ukrainian stock market – Motor Sich (MSICH: UNDER REVIEW).
On the one hand, the market's attention is now drawn to these shares even more. On the other hand, market participants should worry about the weakness of the stocks of other liquid and relatively liquid issuers. An optimistic interpretation of what is now happening may be that the majority of shares underwent a correction after two days of growth and the market is now ready to move up. A pessimistic interpretation may be that it is just an illusion that the Ukrainian stock market is returning to life.
In turn, incongruous dynamics have been observed on global trading platforms once again. Perhaps the most important development was growth in the yield of U.S. Treasury bonds, which indicates the predominance of a correction mood, despite the modest decrease in indices. At the same time, while the S&P 500 is holding steadily above 1,400 points, almost any drop in stock prices is likely caused by greed (buying cheaper) than it is driven by fear (selling before it's too late).
