July 2008 “Islamic market’s measure” – preliminary report
Monthly report on the performance of the Dow Jones Islamic market indexes
Based on the close of trading on July 28, the global Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shari’ah compliant stocks globally, lost -4.43% month-to-date, closing at 2276.21. In comparison, the Dow Jones Global Titans 50 Index, which measures the 50 biggest companies worldwide, posted a loss of -2.94%, closing at 197.40.
- The Dow Jones Islamic Market Asia/Pacific Titans 25 Index, which measures the performance of 25 of the leading Shari’ah compliant stocks in the Asia/Pacific region, decreased -6.25%, closing at 2015.43. The Dow Jones Asian Titans 50 Index, in comparison, posted a loss of -3.46%, closing at 154.99.
- Measuring Europe, the Dow Jones Islamic Market Europe Titans 25 Index, which measures the performance of the 25 of the leading Shari’ah compliant stocks in Europe, closed at 2508.20, a loss of -4.96%, while the pan-European blue chip Dow Jones STOXX 50 Index lost -2.85%, closing at 3322.64.
- Measuring the performance of 50 of the largest Shari’ah compliant U.S. stocks, the Dow Jones Islamic Market U.S. Titans 50 Index decreased, closing at 2215.28. It represents a loss of -3.84%. The U.S. blue-chip Dow Jones Industrial Average decreased -1.93%, closing at 11131.08.
Asia: Performance of Dow Jones Islamic Market Versus Conventional Dow Jones Indexes
Dow Jones Islamic Market Indexes Conventional Dow Jones Indexes
Index Names Index Close July 2008 MTD 2008 MTD 2008 Index Close July 2008 Index Names
DJIM Asia/Pacific Index 1347.20 -5.45% -3.38% 136.86 DJ Asia/Pacific Index
DJIM China Offshore Index 2486.54 0.69% 2.68% 4180.97 DJ China Offshore 50 Index
DJIM Hong Kong Index 11359.03 -1.27% -0.73% 406.75 DJ Hong Kong Index
DJIM India Index 1532.38 7.68% 6.87% 1628.72 DJ Wilshire India Index
DJIM Indonesia Index 1235.48 -10.62% -4.90% 152.64 DJ Indonesia Index
DJIM Japan Index 1129.09 -4.68% -3.08% 99.22 DJ Japan Index
DJIM Malaysia Index 1406.62 -8.46% -3.37% 181.76 DJ Malaysia Index
Dow Jones-JS Pakistan Islamic Index 12341.46 -19.71% -19.45% 918.18 DJ Wilshire Pakistan Index
DJIM Philippines Index 1545.62 2.90% 4.47% 143.30 DJ Philippines Index
DJIM Singapore Index 1223.78 -4.02% -2.13% 277.92 DJ Singapore Index
DJIM South Korea Index 773.93 -1.59% -1.02% 252.99 DJ South Korea Index
DJIM Amana Sri Lanka Index 1065.58 1.51% -3.82% 146.61 DJ Sri Lanka Index
DJIM Taiwan Index 4216.30 -3.07% -4.11% 150.95 DJ Taiwan Index
DJIM Thailand Index 1430.45 -13.85% -11.05% 90.50 DJ Thailand Index
Middle East and GCC Regions
Dow Jones Islamic Market Indexes Versus Conventional Dow Jones Indexes
In July, the Dow Jones DFM Titans 10 Index, measuring the 10 largest and most liquid stocks listed on the Dubai Financial Market, closed at 5459.02. It is a loss of -3.51% month-to-date.
The Dow Jones Islamic Market Kuwait Index posted a loss of -4.58%, closing at 1856.75. Its conventional counterpart index, the Dow Jones Kuwait Composite Index, was down, closing at 483.75. It represents a loss of -2.49%.
The Dow Jones Islamic Market Turkey Index closed at 3704.95, a performance of 0.44% month-to-date, while the Dow Jones Wilshire Turkey Index closed at 1067.08, a gain of 10.95%.
Measuring the performance of Shari’ah compliant stocks of five of the Gulf Cooperation Council (GCC) member states, the Dow Jones Islamic Market GCC Index closed at 2698.60, a loss of -3.40%. The conventional Dow Jones GCC Index was down -2.25%, closing at 2834.91.
Other Markets and Asset Classes
The Dow Jones Islamic Market BRIC Equal Weighted Index decreased -10.61%. It had a closing value of 2051.15. By comparison, the Dow Jones BRIC 50 Index closed at 622.04, a loss of -6.41%.
The Dow Jones Citigroup Sukuk Index, which measures the performance of global bonds complying with Islamic investment guidelines, decreased -0.31%, closing at 111.96.
The Dow Jones Islamic Market Sustainability Index, which measures sustainable practice business of companies respecting the Shariah laws, decreased -4.02%, closing at 2639.12. The conventional Dow Jones Sustainability Index lost -3.03% with a closing value of 1167.60.
Global July 2008 Industries Winners and Losers
The three best performing Dow Jones Islamic Market Industry Indexes were Health Care, Financials, and Consumer Goods, with performances of 3.53%, -0.02% and -1.48% respectively. The Dow Jones Islamic Market Oil & Gas, Dow Jones Islamic Market Basic Materials and Dow Jones Islamic Market Utilities Indexes were the three worst performing industry indexes with performances of -14.19%, -12.89% and -8.88% respectively.
