Market cap of Arab stock markets reaches $4.5trn in 2023

Market cap of Arab stock markets reaches $4.5trn in 2023

The combined market capitalisation of Arab stock markets reached $4.5 trillion, rising 12.2 percent year on year by the end of December 2023, the Union of Arab Securities Authorities (UASA) has said. The surge was primarily driven by the Saudi stock exchange, which saw a 14 percent rise to more than $3 trillion in 2023, […]The combined market capitalisation of Arab stock markets reached $4.5 trillion, rising 12.2 percent year on year by the end of December 2023, the Union of Arab Securities Authorities (UASA) has said.

The surge was primarily driven by the Saudi stock exchange, which saw a 14 percent rise to more than $3 trillion in 2023, up from $2.6 trillion a year earlier.

The UASA aims to support and promote cooperation between Arab securities commissions and enhance the effectiveness of its oversight role, according to its website.

The Arab markets faced a turbulent start to 2023 due to challenging market conditions in the first five months of the year, the report said. However, regional markets reported significant growth, mainly in the last two months.

The Egyptian exchange witnessed a 95.8 percent increase in traded stock value, reaching $110.7 billion, constituting 17 percent of the region’s total trading value. The surge