"In continuation of Global Investment House coverage on the Palestine Securities Exchange, we have come out with Palestine Securities Exchange Performance 2008.
What was once regarded as a limitation for the Palestinian economy turned out to be its saving grace in 2008, as the Palestinian Securities Exchange (PSE) was able to ward off the devastating effects of the global financial crisis in the year 2008. With Palestine being a relatively closed and small economy, its exposure to foreign financial markets was rather limited. Furthermore, PSE exhibited resilience midst the mounting political instability and
the grinding poverty in the West Bank and Gaza. Nonetheless, the PSE saw Al Quds Index shedding 16.2% in 2008 from its level in the previous year, unfazed by the sharp declines in regional bourses. The index reached a peak of 738.7 pts in April 2008, with an increase of 40.4%. However, troubled by the ongoing political turmoil in the Palestinian Territories and with the advent of the global financial crisis, the PSE began to witness some strain in its share prices and reached its lowest level of 407.3 pts on November 26, 2008 before recovering some of its losses toward the year-end to close at 441.7 pts, falling by 28.4% in the last three month of the year alone. The year 2008 witnessed a large increase in the total number of traded shares where 339.2 million shares exchanged hands, up by 13.3% from the 2007 level of 299.4 million shares. The value of traded shares increased by more than one fold reaching JD1.2 billion compared to JD576.4 million in 2008.
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