The Abu Dhabi Securities Market reported that the total market value amounted to 494 billion dirhams at the end of the first half of this year, compared to about 520 billion dirhams in the same period of 2019, with the continued relaxation of restrictions imposed by the emerging Corona Virus crisis (Covid 19).
The market confirmed, in a statement yesterday, about its performance in the first six months of the year 2020, that the decline in values is expected by comparing this period with that of last year in light of the crisis of the spread of the "Covid 19" virus, and was not different from the experience of other financial markets around The world, the market reacted swiftly and in anticipation of the crisis, providing support to all stakeholders.
He pointed out that the market value increased by 20%, to reach about 607 billion dirhams, with TAQA completing its merger with the Abu Dhabi Energy Corporation on July 1.
He pointed out that foreign ownership shares in three companies listed on the market were raised to 49%, while another company witnessed an increase in the percentage to 40%, thus increasing the value of 6.3 billion dirhams of the shares available to foreign investors.
The total number of listed companies that foreign investors can invest in has reached 55, representing 80% of the listed companies in the market.
He noted the entry of 1723 new investors, including 1497 individual investors, 226 institutional investors, and more than half of the new investors, who accounted for 53%, were non-Emiratis.
The number of non-Emiratis who obtained an investor number increased by 25% during the first half of this year, compared to the first half of last year.
Investors from the United Kingdom occupied the first position in the list of non-Emiratis most traded in the market, as they traded 5.2 billion dirhams of shares in that period, followed by investors from the United States with shares amounting to 4.1 billion dirhams, followed by Luxembourg investors with 1.2 billion dirhams.
1723 new investors traded in the market for the first time during the first half of the year, of whom 1497 were individual investors, or about 87% of the total number of new investors.
The total value of trading (buying and selling) reached 40.7 billion dirhams, compared to 54.7 billion dirhams in the same period last year.
Cooperation and coordination
Abu Dhabi Securities Market Chief Executive Khalifa Al-Mansoori said that “all parties in the Emirate of Abu Dhabi cooperated to ensure the emirate's exit from the crisis (Covid-19) in a position to resume its long-term growth path”, noting that “the Abu Dhabi Securities Market has done its part In that, he worked in close coordination with his listed companies and other stakeholders to build a solid and modern financial market that seeks globalization, which is an essential pillar in any economy. He added, "We cannot be sure of the time when the world will recover, but there are many reasons for optimism in Abu Dhabi."