By: Mahmoud Gamal
Abu Dhabi – Mubasher: Since the start of 2018 and with stocks having reached attractive prices compared to neighbouring markets, official indicators show that Arab and foreign non-Arab investors were the top buyers on the Abu Dhabi Securities Exchange (ADX).
US, UK, Kuwaiti, and Jordanian investors topped buyers on the ADX in the first week of the new year.
Foreign non-Arab buying on the Abu Dhabi bourse amounted to AED 77.43 million between 3 and 5 January against AED 43.83 million in selling, resulting in net purchases of AED 33.6 million, data compiled by Mubasher showed.
Foreign buying accounted for 18% of the total value of trades executed during that time frame and which totaled AED 437.8 million.
UK and US investors
UK investors led foreign non-Arab buyers on the ADX during the three-session week with AED 63.494 million in investments against AED 40.73 million sales, resulting in net buying of AED 22.76 million.
US investors came in second with AED 40.48 million in buying and AED 33.6 million in sales, netting AED 6.88 million in purchases.
Luxembourg investors came in third with AED 31.47 million in buying and AED 8.42 million in sales, netting AED 23.05 million in purchases on the ADX.
Meanwhile, Norwegian investors were the top sellers on the Abu Dhabi market, having sold AED 20 million in stocks, followed by Australian investors with AED 2.37 million in sales.
Kuwaiti, Jordanians top Arab investors
As for Arab and GCC investments on the ADX in the first week of the year, combined purchases amounted to AED 72.12 million versus AED 82.87 million in sales, resulting in net selling of AED 10.75 million.
Arab and GCC investors’ buying made up 16.5% of the ADX’s total transactions worth AED 437.8 million.
Regionally, Kuwaiti investors topped ADX buyers with AED 15.44 million versus AED 12.44 million in sales, netting AED 3 million in purchases.
Jordanian investors came in second with AED 13.03 million buying against AED 12.94 million selling, netting AED 96,200 in buying.
Palestinians came in third among Arab world investors, purchasing AED 7.43 million in stocks versus AED 6.8 million in sales, resulting in net buying of AED 554,310.
In terms of sales, Saudi investors top the list, netting AED 5.8 million sales, after total selling amounted to AED 18.7 million versus AED 12.88 million in buying.
Translated by: Nada Adel Sobhi
