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THE ARAB MONETARY FUND ISSUES THE SIXTEENTH ISSUE OF THE "ARAB CAPITAL MARKETS WEEKLY BULLETIN"
The Arab Monetary Fund’s index of Arab money markets ended last week’s transactions, up by 0.68 percent to reach about 421.1 points.
Arab stock exchanges maintain their weekly gains, coinciding with the improvement in the quarterly business results of the Arab companies listed at the end of the third quarter, and the Amman Stock Exchange records the largest increase in the value of weekly trading
Within the framework of its efforts to develop the financial sector in the Arab countries, the Arab Monetary Fund publishes the "Weekly Bulletin of Arab Capital Markets", which is concerned with monitoring the most important developments in Arab financial markets based on the Arab Monetary Fund's database of Arab financial markets, and data issued by Arab stock exchanges. The sixteenth issue of the bulletin indicated that the Arab Monetary Fund’s composite index of Arab financial markets recorded an increase of 0.68 per cent at the end of last week ending on the nineteenth of November 2020, compared to the end of the trading week ending on November 12, 2020, equivalent to 2.84 points, The index reached 421.1 points.
Most of the performance indicators of Arab stock exchanges recorded an increase at the end of last week, to maintain the gains made during the previous week in terms of trading activity and market value in most Arab financial markets. This improvement reflected the quarterly business results witnessed by some Arab companies listed at the end of the third quarter, which indicated a gradual recovery from the negative effects of the repercussions of the Coronavirus. The improvement in the performance of global financial markets, the stability of oil prices, in addition to the continued positive news related to the discovery of new vaccines from several countries for the emerging Corona virus, had an additional effect in support of the activity of Arab stock exchanges.
The performance indicators of ten Arab stock exchanges recorded an increase over the past week. The Palestine Stock Exchange advanced gains, to record its index up by 5.3 percent. While the stock exchanges of Dubai, Casablanca, Saudi Arabia, Tunisia, Abu Dhabi and Damascus recorded an increase ranging between 1.17 and 2.35 percent. The indexes of the stock exchanges of Amman, Kuwait and Bahrain also witnessed an increase of less than one percent. On the other hand, the performance indicators of four Arab stock markets witnessed a decline at the end of the week, as the stock market indices of Egypt, Qatar, Iraq and Muscat recorded a decline of 0.01 to 1.08 percent.
In terms of trading value, the value of trades in the Arab financial markets recorded a decrease of nearly 12 percent by the end of last week, amid a variation in the performance of the trading value indicators on Arab stock exchanges . In this regard, nine Arab stock exchanges recorded an increase in trading value, led by the Amman Stock Exchange, whose trading value increased significantly during the week, reflecting the end of the comprehensive ban period imposed due to health measures related to the Coronavirus, which positively affected the trading rates of investors in the stock exchange. .
On the other hand, five Arab stock exchanges recorded a decrease in the value of weekly trading, led by the Palestine Stock Exchange, which decreased its trading value by 78.15% during the past week. The stock exchanges of Qatar, Kuwait, Abu Dhabi and Dubai also recorded a decline ranging between 13.5 and 30 per cent . In terms of trading volume, ten Arab stock exchanges recorded an increase in their trading volume at the end of last week, led by the Amman Stock Exchange, in light of the increase in their trading volume to 28.4 million securities compared to 6.9 million securities at the end of the previous week’s transactions.
On the other hand, most of the market value performance indicators in the Arab financial markets improved by the end of last week, to record an increase of 0.56% . In this context, eleven Arab stock exchanges recorded an increase in their market value at the end of last week, reflecting the continued optimism that prevails in Arab stock exchanges regarding economic recovery paths, in addition to the increases achieved in the indicators of the main sectors in a number of Arab stock exchanges, including the banking, financial services and industry sectors. .
The Palestine Stock Exchange PEX advanced the recorded increases in the market value during the past week to achieve gains of about 4%, taking advantage of the increase recorded in all its sectoral indices, where the investment index recorded an increase of 6%. The indicators of banks, financial services, services, insurance, and industry also registered an increase ranging between 0.7 and 6 percent, respectively. The exchanges of Casablanca, Dubai, Damascus and Muscat also recorded an increase in their market value by rates ranging between 1 and 2 per cent. The stock exchanges of Abu Dhabi, Saudi Arabia, Kuwait, Amman, Bahrain and Egypt also witnessed a rise of less than one per cent . On the other hand, Qatar and Beirut Stock Exchanges recorded a decline of 2.6 and 1.8 percent, respectively.
With regard to the most important developments in the Arab financial markets during the week, and within the framework of strengthening Arab stock exchanges' relations with investment institutions with the aim of strengthening ties with companies issuing shares and fixed income instruments from sukuk and bonds, last week the Dubai Financial Market organized a "remote" global investor conference 2020 This came through a series of meetings with 61 international investment institutions that collectively manage assets of $ 3.5 trillion .
On the other hand, and with the aim of strengthening the regulatory framework supporting modern financial technologies (Fintech) in Arab stock exchanges, the Board of the Saudi Capital Market Authority issued a decision last week to approve the financial technology experiment permit application submitted by a company to test the automated advisor service. In the same context, and to enhance the principles of digital inclusion, the Qatar Stock Exchange announced that it has obtained an accreditation certificate from the “Mada” Center for Assistive Technology, in order to distinguish the Qatar Stock Exchange website on the Internet, as this certificate is granted to institutions that implement global digital access standards on their digital platforms .
In continuation of the Arab stock markets ’efforts to join the MSCI emerging market index, Boursa Kuwait worked last week to take a series of permanent and temporary measures, in cooperation with the Kuwait Clearing Company. Allocation in question is a dedicated mechanism for large asset managers to collect client orders, and then settle deals and distribute them to clients at the end of the trading session .Within the framework of enhancing the efforts of the stock exchanges to develop the stock exchanges of small and medium companies, the Egyptian Stock Exchange announced the approval of the exclusion of small and medium enterprises, "the Nile Stock Exchange", from the conditions of the necessity to provide sponsors to provide support to these companies if they meet the quantitative and qualitative criteria and the approval of the competent committee.
In the same context, the Egyptian Stock Exchange completed the amendment of the rules governing the work of approved sponsors at the Nile Stock Exchange. On the other hand, the Egyptian Stock Exchange announced the completion of the development of the determinants of the closing price of shares and the approval of the new calculation method as of Thursday, November 19 . With the aim of enhancing financial literacy in Arab stock exchanges, the Casablanca Stock Exchange announced the signing of a partnership agreement with the Ministry of National Education, Professional Training, Higher Education and Scientific Research, with the aim of promoting financial literacy among students.
In this context, it is noteworthy that the Arab Monetary Fund has been concerned, since 1995, with monitoring the development of the periodic performance of Arab stock exchanges by calculating a composite index that measures the development of the performance of the Arab financial markets as a whole, weighted by the market value of these exchanges, and the index currently includes seventeen Arab financial markets .
The full version of the issue is available at this link
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