 send to a friend by email
2022-10-20
Sahem Weekly Trading Report (16-20)-10-2022
In this week, Al-Quds Index traded in a relatively narrow range amid medium-volume trading that lacked any high-volume transactions that may raise the trading value in Palestine Stock Exchange PEX from time to time. Regarding the leading stocks- with heaviest weights and effects in the Index- they almost lacked the trading momentum, closing with slight change or without any change than the previous week. While the anticipation for the 9M 2022 financial data disclosures dominated the PEX in this period. It is good to note that the PEX is characterized with a unique nature of anticipation stages’ succession with their varying reasons, whereby, investors are not able to complete building their investment portfolios until new anticipation features appear in the horizon.
Regarding the economic indicators and according to the Palestinian Central Bureau of Statistics PCBS, the overall Wholesale Price Index QPI in Palestine during Q3 2022 recorded a decrease by 1.01% compared with Q2 2022 (1.43% for imported products, while the price of local products increased by 0.20%). The changes in WPI for Q3 2022 were traced back to changes in prices of the following division and category compared with previous quarter: Wholesale trade, except of motor vehicles and motorcycles category by 1.02%, which include: wholesale of waste and scrap and other products by 8.50%, wholesale of liquid fuels by 4.04%, wholesale of ferrous and non-ferrous metals in primary forms by 3.27%, wholesale of animal and vegetable oils and fats by 2.61%, wholesale of textiles, clothing and footwear by 1.85%, wholesale of construction materials, hardware, plumbing and heating equipment by 1.47%, wholesale of live animals by 1.32%. This came versus an increase in the wholesale of dairy products and eggs by 7.04%, wholesale of fish, meat and their products by 2.62% and wholesale of agricultural residues and waste for use as animal feed by 1.52%. Regarding the wholesale and retail trade and repair of motor vehicles and motorcycles category, it also decline by 0.94%. This category include: sale of motor vehicles which declined by 3.25%, while maintenance and repair of motor vehicles increased by 1.41%.
Regarding the significant news, the chairman of the PEX revealed significant changes in the PEX during the coming period, in order to activate the stock exchange and develop its performance and role in the Palestinian economy, such as expanding the ownership of Palestine Securities Exchange Company PSE, the operator of the PEX. Among the institutions nominated to own a stake in PSE are Palestine Investment Fund PIF, Palestine Pension Authority and Bank of Palestine BOP. He added that this step is one of many to develop the performance of the PEX, including developing new financial instruments for trading such as bonds, and an investment fund to support startups for young people, with capital up to $50 million, and with partnership between the government and the private sector. He also noted that the PEX is seeking to attract more unlisted companies and introduce tools that correspond to the investors’ needs, especially young people. He also noted that there are 5 local public shareholding companies nominated for listing in the PEX, in addition to 3 other companies under construction (an Islamic bank and two insurance companies). As part of the PEX’s efforts to attract more companies for listing, he added that there are efforts to list 5 Palestinian companies from the occupied territories, which requires some legal changes and ease of procedures by the government and Palestine Capital Market Authority PCMA.
|
|
-trade
