US tech companies prove popular for GCC traders in 2020

US tech companies prove popular for GCC traders in 2020

US tech companies prove popular for GCC traders in 2020

US tech companies prove popular for GCC traders in 2020

US tech companies prove popular for GCC traders in 2020

US technology companies attracted the highest trading volumes among investors worldwide in 2020, including the Gulf Cooperation Council (GCC) region. (Reuters/File Photo)

Short Url

Follow @arabnews

US tech companies prove popular for GCC traders in 2020

Strict lockdowns and the need for employees to work from home due to the coronavirus pandemic have positively impacted the most actively traded US tech companies

Updated 30 December 2020

Follow @arabnews

JEDDAH: US technology companies attracted the highest trading volumes among investors worldwide in 2020, including the Gulf Cooperation Council (GCC) region, Saxo Bank reported.

The Copenhagen-based investment bank said strict lockdowns and the need for employees to work from home due to the coronavirus pandemic have positively impacted the most actively traded US tech companies, with their indexes up more than 40 percent for 2020.

Boeing, Facebook, Zoom Video Communications, Alibaba and Moderna stocks were the most traded in the GCC region this year, according to Saxo.

Tesla, Apple, Nio, Microsoft and Amazon were Saxo's most traded stocks in the world in 2020, with over 646 percent of value market growth for Tesla and over