UAE – Mubasher: The Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) have decided to decrease the limit down on the price of listed securities from 10% to 5% starting Wednesday and until further notice, as markets try to contain the impacts of the coronavirus (COVID-19).
Following the instructions of the Securities and Commodities Authority (SCA), ADX and DFM will keep the maximum daily rise cap at 15%.
Commenting on the decision, chairman of DFM Essa Kazim, said: “DFM always keeps a close eye on market developments and activity in order to take all the necessary actions to contain fluctuations, especially the recent fluctuations due to the Coronavirus. Today’s measure is a result of DFM and SCA’s joint efforts to contain these fluctuations.”
Meanwhile, the chief executive of ADX, Khalifa Salem Al Mansouri, noted that “this decision comes in light of the global turbulences that have recently affected many financial markets.”
