Israeli stocks fall, shekel weakens as vote held on ‘reasonableness’ bill

Sharon Wrobel is a tech reporter for The Times of Israel.

The Tel Aviv Stock Exchange, December 25, 2018. (Adam Shuldman/Flash90)
The Tel Aviv Stock Exchange, December 25, 2018. (Adam Shuldman/Flash90)

Israeli shares turn to losses and the shekel weakens as voting on the “reasonableness” law begins after negotiations on a compromise with the opposition on the contentious judicial overhaul collapsed.

Tel Aviv Stock Exchange’s benchmark TA-125 index falls 1% and TA-35 index of blue-chip companies declines 0.8%, while the TA-90 index is down 0.9%. The Tel Aviv index of the five largest banks is down 0.8% and the TA-Insurance & Financial Services declines 0.5%.

The Knesset begins voting on the “reasonableness” law, barring judicial review of government and ministerial decisions on the grounds of reasonableness. It is set to become the first piece of the planned judicial overhaul to become law.

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