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Awaida : "PSE is stable, and trading weakness is caused by Ramadan inaction"

2008-09-24

The CEO of Palestine securities exchange said yesterday "The PSE hadn’t been affected by the crisis that the global stock markets had vouched". Awaida clarified in a press conference that had been held in order to announce launching the preparations for the second annual Palestinian capital market forum that is decided to be held in next November 27, he clarified that " we haven"t foreign funds that have significant impacts, and this protects the market and it is an indicator for the PSE smallness and for its little correlation to other regional and global markets". Arab stock markets are vouching severe declines since weeks affected by the troubles in global markets; meanwhile PSE had preserved its status to lead the gaining Arab indices by %52 since the beginning of the year. On the other hand, Awaida pointed out that the activity weakness in the PSE is temporary, where we are witnessing Ramadan inaction with the approach of feast holiday. Regarding the second annual Palestinian capital market forum, Awaida noted that the PSE is seeking for a wider regional dimension to the forum by inviting regional economists to participate in the forum. And said "one centre will concentrate on Palestinian market reality and its potentials, and the remaining centers will concentrate on regional markets and its relations in addition to the potentials to benefit from their experiences.