The highest among the Arab stock exchanges. Report shows Egyptian and Syrian stock exchanges hit record highs

The Arab Monetary Fund reported that the Egyptian Stock Exchange led the Arab Stock Exchanges in terms of performance gains last week, while the Damascus Stock Exchange recorded the highest level of trading volume growth.

According to the report of the Arab Monetary Fund, the Arab Financial Markets Composite Fund Index ended the trading week ended January 27, 2023 up 0.01 percent to reach about 487 points.

He noted that the Egyptian Stock Exchange outperformed the Arab Stock Exchanges in terms of efficiency gains by 4.51 percent and achieved the largest increase in market value by about 2.78 percent.

The Damascus Stock Exchange recorded the highest level of trading volume growth of 280.21 percent, and led the Arab stock exchanges in terms of a 224.87 percent increase in trading volume.

The performance of the Arab stock exchanges included in the Arab Monetary Fund Composite Index showed fluctuations dominated by gains in the week ending January 27, 2023, as nine Arab stock exchanges recorded gains in the week ending January 27, 2023. last week due to the improvement in cost indicators, the growth of foreign investment rates and banking sector indices, mainly investment and transport.

This increase coincided with the weekly growth recorded in most of the world’s financial markets, especially in the US and Europe, as well as in a number of emerging stock exchanges.

On the other hand, five Arab stock exchanges recorded a decline in their performance indicators, which was affected by a decrease in the values ​​and trading volumes. The relative decline in world oil prices recorded last week also contributed to the decline in a number of key sectors of the Arab stock exchanges, including energy and petrochemicals.

Source: RT