ABU DHABI, UAE – 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 capitalization of the Abu Dhabi Securities Exchange rose from $781.5 billion to $784.6 billion by the end of last week, while the market capitalization of the Dubai Financial Market increased from $186.9 billion to more than $190 billion.
The market capitalization 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 capitalization 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 billion to $18.6 billion.
According to the bulletin, the Amman Stock Exchange gained about $88.2 million, increasing its market capitalization 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 capitalization 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 AMF bulletin explained that the market capitalization of the Bahrain Stock Exchange reached $20.09 billion, while the market capitalization of the Palestine Exchange exceeded $4.9 billion.
The total market capitalization of Arab stock exchanges reached about $4.487 trillion by the end of last week’s trading.