The global fiscal distress wreaked havoc in most markets in the last months of 2008 and its effects continued to reverberate through 2009. It was a hard year for most of them, including the Abu Dhabi Securities Exchange (ADX) although it ended 2009 higher by almost 13 per cent.
The growth has apparently tempted foreign investors, whose net purchase more than doubled in the second half, according to its Deputy Chief Executive and Director of Operations Rashed Al Baloushi.
In an interview with Emirates Business, Baloushi said ADX outperformed most other markets in 2009 and the process of its development would continue.
He supported the creation of a bond market in the UAE and said plans to introduce exchange trade funds (ETFs) to ADX could materialise in 2010. But derivatives could be delayed.
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