ADX tops Arab region in terms of performance; Surges market value by 3.03%

By Shilpa Annie Joseph, Official Reporter
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The Arab Monetary Fund (AMF) has revealed that the Abu Dhabi Securities Exchange (ADX) was the leading Arab financial market in terms of performance last week, as its index surged by 3.6 percent, and its market value by 3.03 percent.

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 ($110,637,836) at the end of trading last week.

The bulletin also highlighted the fact 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.

Further, the bulletin highlighted several positive factors that contributed to the rise in performance indicators of several Arab stock exchanges.

According to the statement, “This 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 over the past week, in addition to the positive results of listed companies and more foreign investment activity at institutional and individual levels.”

The bulletin stressed that nine Arab stock exchanges witnessed an increase during the past week, led by the ADX at 3.6 percent, the Dubai Financial Market at 2.35 percent, and the Qatar Stock Exchange at 2.75 percent while the stock exchanges of Saudi Arabia, Morocco, Syria, and Palestine also recorded growth ranging from between 1.2 percent and 1.95 percent, and the stock exchanges of Tunisia and Jordan witnessed improvements of less than 1 percent.

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