Amman Bourse Becomes ‘Most Attractive Stock Market in Region’
Officials and brokers at the Jordanian bourse said that the bourse has recorded remarkable improvements in the past few weeks, triggering local and foreign funds to invest in what many consider as the most “attractive” stock market in the region.
The chairman of the Jordan securities commission Bassam Saket was quoted by the Jordan Times as saying that the change in the bourse was mainly from local and foreign factors.
Among them, Saket said, is a decline in the interest rate, a decline in real estate industry and the collapse of the share prices information technology companies on the New York stock market, where over $200 million of Jordanian investments were channeled.
Recent figures showed that market capitalization rose by 23 percent this year, up to JD4.3 billion, while trading volume increased by 54 percent while the 75-share price index closed at 166.2 points, up by over 20 points.
The half-year profits of the listed firms rose by 134 per cent, up to JD152 million.
The profits of the banking sector, which controls over 55 per cent of the market capitalisation, rose by 28 per cent, up to JD115 million, official figures said – Albawaba.com