TNT

  In TNT

Tishwash: Economist: The Iraq Stock Exchange needs a major review

The economist Manar Al-Ubaidi explained the details of the reality of buying and selling operations in the Iraq Stock Exchange.

He said in a statement, Alsumaria News received, a copy of it, “The number of companies listed on the Iraq Stock Exchange in its last dealings reached 116 companies with a market value of 11.6 trillion dinars, where 53 companies were traded in the regular market while 27 companies were traded in the second market. Shares of 36 companies are trading in 2019.

He added, “The market did not achieve more than 2.84% of the value of shares traded, which is a very low percentage compared to the markets of neighboring countries, which has a rate of 10%. Note that some active markets reach the ratio to more than 100%.”

He continued, “The banking sector occupied the largest percentage of shares traded, as the banking sector accounted for 82% of the total sector, followed by the industrial sector at 11%, while the rest of the sectors as a whole did not achieve a percentage of more than 6%.”

And that “the Iraqi market for securities despite being a major pillar in the economies of many countries needs a major review of the market performance as financial markets are an attractive destination for investment in all countries and a system for withdrawing chunky money, which is estimated at about 13 billion dollars, according to central bank statistics.”

Al-Obaidi stressed that “the weakness of the market is due, despite the fact that there is a real desire among all small and large investors, due to several factors, including the market’s inability to market investment in the Iraqi market in addition to the weakness of the market in putting pressure on listed companies to launch their shares instead of listing them in most of them within The boards of directors, in addition to the market’s inability to attract private sector companies and joint-stock companies by listing on the market due to poor marketing and weak ability to persuade those companies to list. ”

Al-Ubaidi called “the management of the market to keep abreast of modern technologies that allow easy trading through electronic platforms and work to develop the current capabilities of the market and raise the market to the level of the markets of neighboring countries.”   link

************

Harambe:  Reuters: Record oil output cuts fail to make waves in coronavirus-hit market https://reut.rs/3edE67M