The Tel Aviv Stock Exchange (TASE) reported on Tuesday that the past decade has witnessed a significant increase in the activity of foreign investors. The exchange said it is impossible to directly measure the volume of equity trading generated by foreign investors but estimated the scope of foreign investor activity by drawing comparisons between turnover on Sundays, a non-work day for most foreign investors, and the other days of the week.

The stock market refers to the significantly lower trading activity on Sunday as the “Sunday Effect”. During the past two years, Sunday turnover has been about 24 percent lower on average than other days of the week, as opposed to 13% in 2004 and 5% in 1997. Over the past three years non-residents invested approximately four billion US dollars.