UAE Markets Topped Arab Stock Exchanges Last Week: AMF

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 28th Sep, 2023) The financial markets of the United Arab Emirates topped the Arab stock exchanges during last week's trading, according to the Arab Monetary Fund (AMF).

The fund, in its weekly bulletin on Arab financial markets, which monitors the performance of 13 exchanges, said that the UAE markets achieved monthly market gains of over US$6.2 billion, distributed at $3.18 billion for the Abu Dhabi Securities Exchange and $3.08 billion for the Dubai Financial Market.

The bulletin explained that the market capitalisation of the Abu Dhabi Securities Exchange rose from $781.5 billion to $784.6 billion by the end of last week, while the market capitalisation of the Dubai Financial Market increased from $186.9 billion to more than $190 billion. The market capitalisation of the Saudi Financial Market reached $2.97 trillion.

The bulletin noted that the Egyptian Exchange achieved market gains of about $1.37 billion, raising its market capitalisation from $42.

25 billion to $43.9 billion. The gains of the Beirut Stock Exchange reached about $272.8 million, raising its capital from $18.36 to $18.6 billion.

According to the bulletin, the Amman Stock Exchange gained about $88.2 million, increasing its market capitalisation from $23.7 billion to $23.8 billion. The Damascus Stock Exchange gained about $66.1 million, raising its capital from $3.96 billion to $4.03 billion.

The bulletin stated that the market capitalisation of the Qatar Stock Exchange reached $166.27 billion, the Kuwait Stock Exchange reached $134.03 billion, the Muscat Stock Exchange reached $61.07 billion, and the Casablanca Stock Exchange reached $59 billion.

The bulletin of the Arab Monetary Fund explained that the market capitalisation of the Bahrain Stock Exchange reached $20.09 billion, while the market capitalisation of the Palestine Exchange exceeded $4.9 billion. The total market capitalisation of Arab stock exchanges reached about $4.487 trillion by the end of last week's trading.