Arab markets rise for first time in six months
Monday, 22 December 2008
RIYADH, Dec 21: Arab stock markets gained nearly US$25 billion (Dh92 billion) in the first 20 days of December to reverse a rapid fall for the first time since June, according to official figures, according to Internet.
The markets of Saudi Arabia, Qatar, Kuwait, Jordan and Egypt accounted for the bulk of the increase while those of the UAE and other Arab states, which have exchanges recorded relative stability, showed the figures by the Joint Arab Stocks Data Base at the Abu Dhabi-based Arab Monetary Fund (AMF).
The gain in the combined Arab market capitalisation followed a loss of nearly $117 billion in November and more than $587 billion since they began their freefall at the end of June, the report showed.
The markets of Saudi Arabia, Qatar, Kuwait, Jordan and Egypt accounted for the bulk of the increase while those of the UAE and other Arab states, which have exchanges recorded relative stability, showed the figures by the Joint Arab Stocks Data Base at the Abu Dhabi-based Arab Monetary Fund (AMF).
The gain in the combined Arab market capitalisation followed a loss of nearly $117 billion in November and more than $587 billion since they began their freefall at the end of June, the report showed.