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Tehran Stocks Rally as Government Raises Funds for Virus Fight

  • Rouhani plans to sell stakes in state-owned assets on bourse
  • Benchmark index has climbed 30% since first confirmed case
Medical firm staff work in a lab on coronavirus testing kits in Tehran, Iran, on April 11.

Medical firm staff work in a lab on coronavirus testing kits in Tehran, Iran, on April 11.

Photographer: Majid Saeedi/Getty Images

Stocks in Iran have rallied to record highs after the government announced plans to sell about $2 billion worth of state assets to raise money for the fight against the coronavirus epidemic.

The Tehran Stock Exchange’s main index of shares rose 2.5% to 623,276 points, driven mostly by industrial shares such as petrochemical producers, steel companies and banks. The index has climbed 30% since Feb. 19, when Iran reported its first confirmed cases of the virus.