RAMALLAH, West Bank — Palestinians are divided over the Palestine Capital Market Authority's decision to suspend trading indefinitely on the local stock exchange due to urgent health conditions arising from the coronavirus pandemic.

For investor Ahmed Abu al-Haija of Jenin in the West Bank, the decision to shut down activity on the Palestine Exchange (PEX) March 23 was reassuring. Abu al-Haija believes this step will help overcome the sharp downturn stocks experienced. For him and other investors, this period is critical, especially in light of the state of emergency and the ensuing movement restrictions in Palestinian cities due to the spread of the coronavirus. The banking sector in the West Bank has also restricted activities to a minimum.

Abu al-Haija told Al-Monitor his investments in shares are short term. He explained that the closing gives him hope the situation will improve once the state of emergency is lifted and life returns to normal.

Yet even those in charge of the market don't know when it will resume trading. The decision is linked to the state of emergency the Palestinian government declared beginning March 5 until April 5 in an effort to contain the spread of the virus that causes COVID-19. But many people expect the state of emergency to be renewed, as 117 cases had been recorded in Palestine as of March 31, nine of which were in the Gaza Strip.