[2007-08-08]  Kuwaiti investments in Jordan stock market the second from Arab world
MENAFN - Kuwait News Agency (KUNA)) The total value of Kuwaiti investments in Amman's Stock Exchange (ASE) reached USD 1.9 billion during the first seven months of 2007 and the number of Kuwaiti investors in the market reached 3,249, official statistics said Tuesday.

According to ASE's figures, Kuwaiti investors ranked second among non-Jordanian investors after Saudis who have investments worth USD 3.93 billion and the Lebanese came in third.

Director of the brokerage department at the Jordanian Al-Ahli Bank Nazar Al-Taher told KUNA the strong ties between Kuwait and Jordan has reflected positively on the volume of investments in Jordan.

The political circumstances in the world following the September 11 attacks in the US and the unstable situation in some countries in the region boosted the flow of Arab gulf investments into the country, including Kuwaiti investments, he added.

The total value of shares that were bought by Non-Jordanian investors since the beginning of 2007 until the end of July was USD 2,538 million, 24.4 percent of the overall trading volume, while the value of shares sold by them amounted to USD 2,108.7 million.

As a result, the net of non-Jordanian investment since the beginning of 2007 until the end of July showed an increase of USD 437.3 million, compared to an increase of USD 213.9 million for the same period in 2006.

Arab investor purchases since the beginning of 2007 until the end of July were USD 2,257.4 million, or 88.9 percent of the overall purchases by non-Jordanians, while the value of non-Arab purchases amounted to USD 281 million, constituting 11.1 percent of the total.

Arab investors' sales amounted to USD 1,762 million, 83.5 percent of non-Jordanians total sales, while the value of non-Arab sales amounted to USD 347.5 million, representing 16.5 percent of the total sales by non-Jordanians.

The total value of shares bought by non-Jordanian investors during July 2007 was USD 714.5 million, representing 41.7 percent of the overall trading volume, while the value of shares sold by them amounted to USD 678.3 million.

Thus, the net of non-Jordanian investment in July 2007 showed an increase by USD 36.1 million.

Non-Jordanian ownership in companies listed at the ASE by end of July 2007 represented 45.8 percent of the total market value, 34.4 percent for Arab investors and 11.4 percent for non-Arab investors.

At the sector level, the non-Jordanian ownership was 48.3 percent in the financial sector, 33.7 percent in the services sector, and 46.3 percent in the industrial sector.

Total Kuwaiti investments in Jordan are first among Arab and foreign investments, estimated at around USD six billion and distributed among various sectors.




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