Value of foreign investments on ADX hits AED26.9bn in H1

ABU DHABI / WAM

The total trading value of foreign investments in Abu Dhabi Securities Exchange (ADX) hit AED26.9 billion during H1, 2017, accounting for 47.3 percent of ADX total trading during the same period, which amounted to around AED56.5 billion, reflecting foreign investors’ growing confidence in the country’s economy.
Foreign non-Arab investors topped the list with AED15.9 billion of trades, followed by Arab investors with AED6.5 billion, and GCC investors with AED4.4 billion.
“The investment environment in ADX over the past few years has played a great role in increasing the market competitiveness for all segments of investors. ADX main strategic goals are to increase market cap and product range, attract and activate a wider range of investors in the framework of enhancing the competitive environment for doing business and attracting investment into the Emirate,” said Rashed Al Blooshi, ADX Chief Executive.
Al-Blooshi added that ADX will launch new services later this year, including the technical short-selling service.
The total number of investors in ADX by the end of first half of 2017 reached 961,000 investors, with 2276 new investor numbers having been issued, including 2020 for individuals and 256 for institutions.

Dual-listed stocks get
lion’s share of liquidity
Dual-listed stocks in UAE equity markets attracted a considerable level of the cash available on the market, pushing shares up to the green area on Wednesday, with a large segment of traders targeting this type of shares following
a state of tranquility that
prevailed for around three
hours of trading over national
companies’ shares.
Advancing shares of national companies included Emaar which closed high at AED8.16 recovering from a drop to AED8.10 during the first half of the session. It was followed by Emaar Malls which rallied to AED2.52 then Dubai Investments at AED2.45, with Damac retaining its positive performance and closing high at AED3.97, and Arabtec following suit at AED3.46.
With regards to dual-listed stocks, Alsalam Holding Group emerged as a top performer, rallying 6.13 percent to AED0.797, followed by Al Salam Bank – Bahrain to 97 fils. Heights-Telecom was up to AED0.608, Ekttitab to AED0.465 and GFH Group picking up AED2.12.
Discrepancy was felt between the country’s two main bourses, with DFM edging high 0.39 percent to 3608 points while ADX went down by the same percent to close at 4542.
In terms of liquidity and volume of trades, a total of 4414 transactions worth AED460 million, against AED425 million previous day, were conducted over 303 million shares. Advancing shares again prevailed with 26 companies out of 62 closing high, 25 down and 11 at their last traded prices.