send to a friend by email

Foreign funds enter the Palestinian stock market for the first time and aimed leading shares

2009-06-07

Jafar Sadaqa wrote:
Al Ayyam newspaper knew that two foreign funds where one is European had entered for the first time Palestine Securities Exchange; which led to a rise in trading value to exceed 12 million dollars.
The funds targeted leading shares, particularly shares of Palestine Development and Investment "PADICO", which accounted for constituted about % 40 of the total number of shares traded.
The entry of the two funds came to crown long months effort that is led by the market management with three funds, that had started in the investment conference which was held in London at the end of last December, and in which the PSE had went through a number of modifications to the trading systems; which had encouraged these funds to enter the Palestinian market.
The trading volume rate jumped by %224.39  to reach about one million shares per day of approximately 327 thousand shares per day only in the previous week, while the trading value rate jumped by %211.37 to about 2.45 million dollars a day from about 789 thousand dollars a day in the previous week.