The UAE financial markets came second only to Saudi Arabia in terms of market value.
ABU DHABI, 19th June, 2017 (WAM) -- With a total traded volume of 155.5 billion securities, the UAE capital markets topped the list of GCC most liquid markets in 2016, with the Saudi Stock Exchange coming second with a total of 67.7billion securities.
The UAE financial markets came second only to Saudi Arabia in terms of market value, which amounted in 2016 to AED817 billion, US$222 billion, with Saudi bourse coming first with a total market value of $449 billion, while the Kuwaiti Financial Market came third at $88.3 billion followed by Oman at $45 billion and then Bahrain at $19.2 billion. In terms of listed companies, the UAE market came third with a total of 126 firms, including foreign companies, preceded by the Saudi market
with 178, with the Kuwaiti market on top with 196 firms. Banks, insurance and property firms account for the largest share of companies listed at the UAE markets, claiming more than half of the entities listed in Abu Dhabi Securities Exchange and Dubai Financial Market. With regards to trading values, the UAE capital markets hit a turnover of AED184 billion, $50 billion, in 2016, with the Saudi market
reaching $308 billion and Kuwaiti market at $9.5 billion.
© Copyright Emirates News Agency (WAM) 2017.