Abu Dhabi bourse tops Arab region in market value increase

WAM

• Market value of Arab stock exchanges rose by $110.64 billion
• Nine Arab stock exchanges increased last week

The Abu Dhabi Securities Exchange (ADX) was the top Arab financial market in terms of performance last week, as the index surged by 3.6 percent and its market value by 3.03 percent, according to the Arab Monetary Fund (AMF).

In its weekly bulletin on Arab capital markets’ performance, the AMF noted that the market value of Arab stock exchanges rose by 2.5 percent, equivalent to some $110.64 billion at the end of trading last week, WAM, the UAE state-owned news agency reported.

The bulletin also highlighted that the market value of the 13 Arab stock exchanges listed in the AMF’s database rose to $4.58 trillion at the end of last week, compared to some $4.46 trillion at the end of the previous week.

The bulletin highlighted several positive factors that contributed to the rise in performance indicators of several Arab stock exchanges. These included the growth of trade and market values in the major stock exchanges, as well as their ongoing efforts to expand the scope of companies listed in primary and secondary markets.

The positive results of listed companies and more foreign investment activity at institutional and individual levels contributed to the increases.

The bulletin stressed that nine Arab stock exchanges increased during the past week, led by the ADX at 3.6 percent, Dubai Financial Market (2.35 percent) and Qatar Stock Exchange (2.75 percent).

The stock markets of Saudi Arabia, Morocco, Syria and Palestine also recorded growth ranging from between 1.2 percent and 1.95 percent.

Meanwhile, the stock exchanges of Tunisia and Jordan witnessed improvements of less than one percent.