Print Edition
TT On-The-Go
TT Feed
1127
| Arab bourses dip $23b in June |
|
 |
 |
 |
Font Size 
 Arab bourses dipped by more than 23 billion dollars in June and the bulk of the decline was in the markets of Saudi Arabia and Qatar, according to official data.
From around $955.9 billion at the end of May, the combined market capitalization of the Arab world's 14 official stock exchanges, excluding those in Sudan and Algeria, plunged to about $932.6 billion on June 28, a decline of $23 billion, showed the figures by the Abu-based Arab Monetary Fund (AMF).
Saudi Arabia's Tadawul, by far the largest and busiest bourse in the Middle East, was the main victim, slumping to around $346 billion from $358.2 billion, a decline of nearly 12 billion, the report showed.
Qatar's market, which had steadily climbed in the previous months of this year, shrank to around $121 billion from $123.1 billion. Kuwait's bourse edged down to about $106 billion from $110.9 billion in the same period.
Bahrain remained unchanged at $19.2 billion while Oman declined to about $19.6 billion from $19.8 billion.
The UAE was the main gainer in the region, with Abu Dhabi's exchange gaining $2 billion to reach $72 billion compared with $70.5 billion. Dubai's bourse declined by nearly $856 million to $54.7 billion from $54.1 billion.
Outside the Persian Gulf, Egypt's market decreased to $70.9 billion from around $71.9 billion.
Morocco's bourse tumbled to nearly $63.1 billion from $66.3 billion while Jordan also dipped to nearly $28 billion from $28.8 billion. Lebanon's Beirut bourse declined slightly at $17.6 billion while Tunisia edged up to around $10 billion from $9.7 billion. The Palestinian bourse dipped slightly to $2.83 billion from $2.85 billion while Syria's bourse dropped to $2.02 billion from $2.3 billion.
The report by the AMF, a key Arab League organization, showed the collective Arab market capitalization on June 28 was nearly $21 billion below its level at the end of 2010, when it stood at around $953 billion.
In number of shares traded, the collective Arab markets declined around 32 percent in June compared to the figure of May. The report also showed that the index of value traded of Arab markets plunged 34 percent in June.
  Socialize this Subscribe to our RSS feed to stay in touch and receive all of TT updates right in your feed reader
|