tase-stock-analysis

name	tase-stock-analysis
description	Analyze Israeli stocks on TASE (Tel Aviv Stock Exchange), track TA-35 and TA-125 indices, and evaluate dual-listed companies (TASE + NASDAQ). Use when user asks about Israeli stocks, "boorsa", "TA-35", "TASE", Maya filings, dual-listed companies, or Israeli capital gains tax on securities. Provides index composition, Maya (TASE disclosure) filings lookup, capital gains tax calculations (25% on securities), and Bank of Israel interest rate context for valuation. Do NOT use for general international stock analysis unrelated to Israel, or for cryptocurrency trading.
license	MIT

TASE Stock Analysis

Instructions

Step 1: Identify the Analysis Type

Ask the user what kind of analysis they need:

Type	Hebrew	Description	Key Data
Index tracking	מעקב מדד	TA-35 or TA-125 index performance	Index composition, weight, performance
Single stock	ניתוח מניה	Individual TASE-listed stock analysis	Price, volume, fundamentals
Dual-listed	חברה דואלית	Companies listed on TASE + NASDAQ/NYSE	Arbitrage, currency effect, tax implications
Maya filing	דיווח מאי"ה	TASE disclosure filings lookup	Material events, financial reports, insider trades
Capital gains	רווחי הון	Tax calculation on securities gains	25% tax rate, exemptions, offsetting losses

Step 2: Gather Market Data

Depending on the analysis type, collect:

• Index data: Use scripts/fetch_tase_data.py to retrieve TA-35 or TA-125 composition and weights
• Stock data: Ticker symbol (TASE uses Hebrew names or numeric codes), current price, volume
• Dual-listed data: Both TASE ticker and US ticker (e.g., NICE on TASE and NICE on NASDAQ)
• Maya filings: Company name or securities number, date range for filings

Step 3: Apply Israeli Context

For any stock analysis, layer in Israeli-specific factors:

• Bank of Israel interest rate: Current BOI rate affects valuations and sector rotation
• Shekel/Dollar exchange rate: Critical for dual-listed arbitrage and foreign exposure
• Sector composition: Israeli market heavy in banking (Hapoalim, Leumi, Discount), pharma (Teva), tech
• Market hours: TASE trades Monday-Friday. Monday-Thursday 09:59-17:14, Friday shortened session 09:59-13:50. No trading on Saturday (Shabbat) or Jewish holidays

Step 4: Calculate Capital Gains Tax (Mas Revach Hon)

When the user has sold or plans to sell securities:

Scenario	Tax Rate	Notes
Individual, non-substantial shareholder	25%	Standard rate on net gain
Substantial shareholder (over 10%)	30%	Flat rate on entire gain (Section 91(b)(2))
High-income individual	+ surtax (mas yesef)	An additional surtax applies to capital income above the annual threshold (~721,560 NIS for 2025-2027): 3% base + a further 2% from 2025 = up to 5% on the slice over the threshold, on top of the 25%/30%. A high earner's effective rate on securities gains can reach ~30%.
Shares eligible for inflationary adjustment (varies by acquisition date and asset type)	Exempt	Only real gain is taxed, consult current regulations
Offsetting losses (kizuz hefsedim)	Allowed	Losses offset gains in same tax year
Foreign resident	Treaty-dependent	Check double taxation treaty

Calculation:

net_gain = sale_price - purchase_price - transaction_costs
tax = net_gain * 0.25  # or 0.30 for substantial shareholder (10%+)

Step 4b: Dividend Tax (Mas al Dividend)

Dividends are taxed separately from capital gains, and every stock analysis should account for them:

• 25% for an individual non-substantial shareholder, 30% for a substantial shareholder (10%+). The same surtax (mas yesef) applies to dividend income above the annual threshold.
• Dividends are withheld at source (nikui mas bemakor) by the paying company or broker, the investor receives the net amount.

Tax withheld at source (nikui b'makor): For securities held through an Israeli broker, BOTH capital-gains tax and dividend tax are auto-withheld at source. A return may still be required to offset losses across different brokers, reclaim over-withholding, or when other mandatory-filing rules apply, so "withheld at source" does not always mean "nothing to file". For a FOREIGN brokerage (e.g. Interactive Brokers), nothing is withheld locally: the investor must pay a semi-annual capital-gains advance (mikdama) by 31 January and 31 July on gains realized in the preceding half-year (Section 91(d)), and report on Form 1322 / Form 1301 in the annual return. Missing the advance accrues interest and CPI linkage. So the practical answer to "what's my tax?" depends on where the securities are held.

Losses (kizuz hefsedim): A securities capital loss offsets capital gain from ANY asset in the same year (other securities, and other capital assets such as real-estate betterment), and can also offset dividend and interest income from securities. Unused losses carry forward indefinitely to future years. There is NO annual tax-free capital-gains allowance in Israel (unlike the UK/US), every shekel of net real gain is taxable.

Tax-advantaged vehicles: Gains realized inside a keren hishtalmut, kupat gemel, or pension fund are exempt or tax-deferred, versus 25% on a direct brokerage account. When comparing an investment held directly vs. inside such a vehicle, factor this difference in.

Step 5: Evaluate Dual-Listed Opportunities

For dual-listed companies (e.g., Check Point, NICE, Teva, Sapiens):

1. Compare TASE price (in NIS) vs. US price (in USD) using current exchange rate
2. Account for ADR ratio (some dual-listed have different share ratios)
3. Factor in different trading hours (TASE and US markets now overlap on Monday-Friday, but Friday TASE closes early at 13:50)
4. Note tax treaty implications -- Israeli residents pay Israeli capital gains tax regardless of which exchange. For a share bought or sold in USD, the Israeli taxable gain is computed in shekels, so the shekel/dollar movement between purchase and sale is part of the taxable gain (not a separate FX item). US tax withheld is generally creditable against the Israeli tax under the Israel-US treaty (zikui mas zar) to avoid double taxation. The same applies to US dividends on dual-listed shares: US withholding (reduced to the treaty rate by filing a W-8BEN with the broker) is credited against the Israeli 25%/30% dividend tax

Step 6: Review Maya Filings

Check relevant disclosures on the Maya system (TASE disclosure platform):

• Immediate reports: Material events that affect stock price
• Periodic reports: Quarterly and annual financial statements
• Related party transactions: Insider trades and holdings changes
• Shelf offerings: Potential dilution events

Summarize key findings and flag any material items.

MCP Integration: Live TASE Data

For live market data, use the TASE MCP Server (skills-il/tase-mcp).

Prerequisites:

• TASE Data Hub API key (register at https://openapi.tase.co.il/tase/prod/, some products are paid)
• MCP server installed: npx github:skills-il/tase-mcp

Setup: Set the environment variable TASE_API_KEY with your API key.

Available MCP Tools:

Tool	What it does
tase_list_securities	List all traded securities
tase_get_security	Get security details by ID
tase_get_security_eod	End-of-day price data
tase_list_indices	List all TASE indices
tase_get_index_eod	End-of-day data for an index
tase_get_index_components	Index composition with weights
tase_get_maya_announcements	Maya company filings
tase_get_management_positions	Board and management holdings

Note: The TASE API requires a paid subscription for some products. Without MCP, this skill provides analysis guidance using general market knowledge. With MCP, the agent fetches live market data directly from the official TASE Data Hub.

Examples

Example 1: TA-35 Index Overview

User says: "Show me the current TA-35 composition and top performers" Actions:

1. Run python scripts/fetch_tase_data.py --index TA35
2. Display top holdings by weight (Bank Hapoalim, Bank Leumi, ICL, Teva, etc.)
3. Show recent performance vs. BOI interest rate context
4. Note upcoming ex-dividend dates for major components Result: Summary table of TA-35 with weights, performance, and key metrics

Example 2: Dual-Listed Arbitrage Check

User says: "Compare Check Point stock price on TASE vs NASDAQ" Actions:

1. Fetch Check Point TASE price (in NIS) and NASDAQ price (in USD)
2. Convert using current BOI representative rate (sha'ar yatzig)
3. Calculate premium/discount between exchanges
4. Note that arbitrage is limited by settlement timing and currency conversion costs Result: Price comparison with exchange rate analysis and practical arbitrage assessment

Example 3: Capital Gains Tax on Stock Sale

User says: "I sold Teva shares for 120,000 NIS, bought them for 80,000 NIS. What's my tax?" Actions:

1. Identify: Net gain = 120,000 - 80,000 = 40,000 NIS
2. Check: Standard rate (25%) assuming non-substantial shareholder
3. Calculate: Tax = 40,000 * 0.25 = 10,000 NIS
4. Note: Can offset against any capital losses (hefsedei hon) from same tax year Result: Capital gains tax of 10,000 NIS, with guidance on loss offsetting and filing

Example 4: Maya Filing Lookup

User says: "Check recent Maya filings for Bank Hapoalim" Actions:

1. Look up Bank Hapoalim on Maya (securities number 662577)
2. Filter recent immediate reports and periodic filings
3. Summarize material events (dividends, board decisions, regulatory actions)
4. Flag any insider trading reports Result: Summary of recent disclosures with material items highlighted

Bundled Resources

Scripts

• scripts/fetch_tase_data.py -- Fetches TASE index data (TA-35, TA-125), stock quotes, and market status. Run: python scripts/fetch_tase_data.py --help

References

• references/tase-api.md -- TASE API endpoints for market data, index composition, and Maya filings search. Consult when integrating live market data.
• references/capital-gains.md -- Israeli capital gains tax rules for securities: rates, exemptions, loss offsetting, substantial shareholder rules, and foreign resident treaty considerations.

Gotchas

• Since January 2026, TASE trades Monday through Friday (previously Sunday-Thursday). Friday sessions are shortened (09:59-13:50). Agents trained on pre-2026 data may still assume Sunday-Thursday trading and schedule queries on Sundays, which are now non-trading days.
• TASE ticker symbols follow a different format than US exchanges. Israeli stocks use numeric securities codes alongside short Hebrew names. Always verify a security number before using it by hitting https://market.tase.co.il/en/market_data/security/{number} (e.g., 662577 = Bank Hapoalim, 604611 = Bank Leumi). TASE securities also carry long-standing English alpha symbols (e.g. POLI = Hapoalim, LUMI = Leumi, TEVA, NICE, CHKP, ICL) alongside the numeric codes; prefer the alpha symbol for clarity (note Leumi's symbol is LUMI, not LEUMI). These symbols are not new, they have existed for years. Never hardcode security numbers from memory; fetch them from the TASE OpenAPI by company name.
• Equity settlement is T+1. Israel transitioned to T+1 settlement for equities; foreign investors may negotiate T+2 with their broker. The skill's pre-2024 references to T+2 across the board are stale.
• Israeli stock prices on TASE are quoted in agorot (1/100 of a shekel), not in shekels. Agents may display raw prices without dividing by 100, showing prices 100x too high.
• Dual-listed Israeli companies (e.g., Teva, Check Point) trade on both TASE and NASDAQ with different prices due to exchange rate fluctuations. Agents may not reconcile the price difference.

Troubleshooting

Error: "TASE ticker not found"

Cause: TASE uses numeric securities numbers and Hebrew names, not US-style tickers Solution: Search by company Hebrew name or securities number (mispar niyar erech). Use Maya search for lookup.

Error: "Exchange rate mismatch for dual-listed"

Cause: Using stale or non-representative exchange rate for comparison Solution: Use Bank of Israel representative rate (sha'ar yatzig) published daily at 15:30. For intraday, note rates are indicative only.

Error: "Capital gains calculation unclear"

Cause: Complex scenarios like partial sales, inflationary adjustments, or inherited shares Solution: For shares eligible for inflationary adjustment (varies by acquisition date and asset type), consult current tax regulations for specific dates. For inherited shares, acquisition cost is market value at inheritance date. Consult a tax advisor (yo'etz mas) for complex cases.