Net foreign investment in bourse drops in first third, up in April

AMMAN — Foreign (non-Jordanian) investment accounted for 50.7 per cent of the total bourse capitalisation in the first third of 2019 (T1-2019), a report issued by the Amman Stock Exchange (ASE) on Tuesday said.

Arab investments constituted 36 per cent of the overall stake trading, while non-Arab investment represented 14.7 per cent of total capitalisation, the report said.

At the sectoral level, foreign proprietorship in the market capitalisation of listed companies during the period of comparison reached 54.4 per cent for the financial sector, 19 per cent for the services sector and 61.9 per cent for the industrial sector, according to the ASE.

The value of shares bought by non-Jordanians during April only amounted to JD46.5 million, representing 34.1 per cent of overall trading. Non-Jordanians sold JD43.5 million worth of shares during the same period.

Accordingly, non-Jordanian investments in April increased by JD3 million in comparison with a JD1 million drop for the same period in 2018, the Jordan News Agency, Petra, reported.

The value of stakes acquired by non-Jordanians in T1-2019 amounted to JD143.3 million, constituting 28.9 per cent of the overall trading, while sold shares totalled JD182.6 million, the report added.

As a result, non-Jordanian net investment dropped by JD39.3 million in the first third of 2019, compared with a JD6.1 decline for the same period in 2018, Petra highlighted.

According to the ASE, Arab investors bought JD78.8 million worth of shares and sold JD100.8 million stakes in the January-April duration, at 55.1 and 55.2 per cent of the bourse’s overall value of acquisitions by non-Jordanian investors, respectively.

Meanwhile, non-Arab investors bought JD64.4 million worth of shares and sold JD81.8 million in stakes, during the first third of 2019, comprising 44.9 and 44.8 per cent of the ASE’s overall value of shares sold by non-Jordanian investors, respectively.