Coinciding with the four-day weekend on Hungarian markets, the release of pent-up selling pressure hit Hungarian shares hard across the board yesterday. Foreign institutional investors, who play a huge role in shaping blue-chip stock prices in Hungary and expect further easing of the forint in the short term, scrambled to close positions held in forint assets after the Hungarian currency weakened from 243 to over 247 versus the euro between Friday and Wednesday. (Econews; Ng 1, Nb 1, Nv 5)
17.03.2005