| 07 Jan 2009 |
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Brokers see upward trend at ASE
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AMMAN - Brokers and analysts expect share prices at the Amman bourse to fluctuate this month but the trend is likely to be upward as investors await the companies' 2008 fiscal results.
"Therefore, an upward trend is expected during this month in general," he indicated, noting that investors are buying shares on the belief that 2009 may bring a solution to the global financial crisis.
Hani Halawani, chief executive officer of IFA Financial Services, echoed similar remarks.
"Investors are so eager to know the results of the companies, especially during last year's fourth quarter when most of the firms suffered a blow to their investment portfolios," Halawani said.
"But still, many are buying in selected companies as prices are luring," he added. "The market is expected to fluctuate mostly with an upward trend."
Nader Shahin, director of Sokouk Company, differed saying: "The market is hard to predict these days."
"Usually the market rises at the beginning of each year. But any surprise or development in the region affect the market. The Israeli aggression on Gaza Strip for instance would cast its shadow on the bourse," Shahin said.
By Mohammad Ghazal
© Jordan Times 2009
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