Arab capital markets plunged by nearly $32 billion in the first 20 days of August to maintain a downward trend caused by the global fiscal turmoil and political unrest sweeping the region, official figures showed on Monday.
Most of the decline was in Saudi Arabia’s Tadawul, the largest and busiest bourse in the Middle East, as well as in Kuwait, Qatar and Egypt, showed the figures by the Abu Dhabi-based Arab Monetary Fund (AMF).
From around $913.3 billion at the end of July, the combined market capitalization of the Arab world’s 15 official stock exchanges dipped to about $881 billion, a decline of $32.3 billion in 20 days, an average $2.1 billion per working day.
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