Hanan Ramses, an expert on financial markets, said the transactions of the Arab stock exchanges at the end of the week and the end of June, which is the end of the half-year, were the weakest in performance in most Arab markets in more than 20 year.
The financial markets expert continued that the decline in emerging market indices by more than 18% is due to the rise in interest rates by the US Federal Reserve, followed by a rise in interest rates at fluctuating rates in the Arab economies .
The financial markets expert indicated that the war between Russia and Ukraine had a short-lived effect on foreign investment, but the biggest impact was the fluctuation of oil prices due to US policy towards federal taxes on gasoline.
Also read: Finance: The “2023-2030” strategy ensures greater stability of tax policies
Hanan Ramses, an expert in financial markets, reviewed the performance of the Arab stock exchanges during the month of June, which ended:
Saudi Stock Exchange
finished Saudi sharesduring the transactions that ended in June, which is the worst monthly performance since March 2020, with 10.8%, which lost 1398 points, which reduced its market value by about one trillion riyal from 12.4 trillion to 11.4 trillion riyal, while the MT30 index, which measures the performance of the leading stocks, fell about 10.9% and lost 195 points. To close at 1598 points, the decline comes as a supplement to the previous month, in which the market lost about 5.9% of its free market value. The decline comes with higher interest rates, falling oil, lower purchases by non-resident foreigners, and high uncertainty in light of expectations of recession in large countries, led by the United States.
The financial markets expert expected the market to lose its upward path as long as the companies did not achieve the required returns from investors in the second quarter and maintained their hopes for the continuity of growth and profitability in the face of these challenges. week, the financial results season for companies will begin, which will be one of the most important factors determining the market path in a stable state. The market is below 11200 points and will remain on a bearish path until positive stimuli appear that push the market upside down.
All sectors, led by media and entertainment, fell by 23%, followed by medicine by 21%, and capital goods by 21%, while public utilities fell the least by 2.8%.
In the performance of companies, only 13 companies rose against the decline of the rest, led by low exports by 64% to close at 34.65 riyal, followed by the Arabian Sea by 62% to close at 65.20 riyal, and third, Enaya with 32% to close at 17.56 riyal, while the high shares were issued by Seiko with about 20% to close. 5% to close at 59.70 rial
UAE financial markets
rose UAE stock market indices This week’s trading was affected by the new listings and the continued rise in oil prices despite the escalation of geopolitical developments related to the Ukrainian crisis
Where the Dubai Financial Market made a profit of about 0.562 billion dirhams during the week, and the Abu Dhabi stock exchange made a profit of about 37.24 billion dirhams
At the end of the week’s trading, the Dubai Financial Market Index ended its trades with a slight increase of 0.03 percent to reach the level of 3,2011.81 points, compared to about 3,200.76 points the previous week.
The banking sector came in with a decline of 1.62%, with Dubai Islamic Bank 0.7%, Emirates National Bank of Dubai 3.4% and Al Salam Bank 4.07%.
The real estate sector increased by 2.19%, with Emaar Properties increasing by 2.36%, Emaar Development 0.23%, Union Properties 4.55% and Deyaar Development 3.3%
The market value of Dubai shares recorded 524.543 billion dirhams at the end of the week, compared to about 523.981 billion dirhams the previous week, with a profit of 0.56 billion dirhams.
The Abu Dhabi Securities Exchange rose 1.14 percent to 9,282 points, compared to about 9,177 points the previous week
It came amid a decline in Virtglobe shares 1.44%, Aram Group 8.47%, Finance House 1.08%, Eshraq Investments 0.85% and Sharjah Islamic Bank 0.59%
While Abu Dhabi Islamic Bank rose by 4.4%, Dana Gas 2% and Ras Al Khaimah Real Estate 12.44%.
Waha Capital 2.88%, First Abu Dhabi Bank 1.84%, Alfazbi Holding 1.84%, and Aldar Properties 1.37%
While the market value of Abu Dhabi shares reached 1.981 trillion dirhams at the end of the week, compared to a value of 1.943 trillion dirhams the previous week, with weekly gains of about 110 billion dirhams.
Kuwait Stock Exchange
Although the performance is different Kuwait Stock Exchange Indices During the first half of 2022, it recorded market profits of 2.609 billion dinars ($ 8.524 billion), while it was red in the second quarter.
Where the leading market index rose by 7.91% in the first six months of this year, scoring 8,243.16 points, from its level at the end of 2021, and the general market index rose by 5.19% around June trade at the point of 7408.57.
As for the main and 50 main market indices, they fell by 3.51% and 3.49% respectively to trade the first half at the point 5893.75 and 5680.72, respectively.
The shares recorded a market value at the close of trading at 44.005 billion Kuwaiti dinars, compared to 41.396 billion dinars at 31 December 2021, an increase of 6.30% estimated at 2.609 billion dinars.
The market value reached its highest level in the first half of this year at the end of April at 49.157 billion dinars, while at the end it recorded the lowest level at 43.194 billion dinars.