Within one day ... Corona Gulf bourses incur losses of 76 billion dollars
11:44 - 02/03/2020
The information / Baghdad ..
Gulf stock exchanges incurred heavy losses of nearly $ 76 billion, during trading yesterday, which analysts described as "Black Sunday".
Indicators collapsed in all markets and investors scrambled towards random selling in an attempt to flee with their money, fearing the widening scope of the damage left by the new Corona virus after its rapid spread in the GCC countries.
Qatar Stock Exchange survived the fall in the abyss, due to its absence from trading to coincide with the bank holiday, while investors awaited the beginning of trading, on Monday.
Trading screens in the Saudi, UAE, Bahrain, Sultanate of Oman and Kuwait markets became red, as the Kuwait Stock Exchange suffered the largest losses in terms of points, after its first index fell by 10.98 per cent, with NBK shares declining by 14.5 per cent.
The general index of the Saudi market fell 3.71 per cent, the general index of the Dubai Financial Market fell by 4.49 per cent, Abu Dhabi 3.62 per cent, Bahrain 3.37 per cent and the Muscat market 1.2 per cent.
The Saudi Stock Exchange recorded the largest losses in terms of market value, as it incurred 214 billion riyals ($ 57 billion), as the market value of listed stocks fell to 8.21 trillion riyals, compared to 8.43 billion riyals in the previous session, last Thursday.
Abu Dhabi and Dubai stock exchanges lost 29.9 billion dirhams (8.14 billion dollars), Kuwait 10.45 billion dollars and Oman 215 million dollars, which exacerbates the losses incurred by the markets over the past period.
A report prepared by the Kuwait-based International Investment Company showed that the losses of Gulf stock exchanges during last February amounted to about $ 150 billion, the largest share of which was for the Saudi market by about $ 82 billion. Ended / 25