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ASE investors optimistic about June trading as sectors reopen

Value-traded-by-sector
(Amman Stock Exchange)
AMMAN — The Amman Stock Exchange (ASE) closed the last trading session of May with a slight rise amounting to 0.1 percent, with the general price index closing at 2,052.89 points.اضافة اعلان

Trading value for Monday reached JD18.3 million, with 11 million shares traded through 5,587 transactions.

Last month’s sessions saw important gains, pushing the ASE to above 2,000 points for the first time in two and a half years, along with trading nearing JD20 million and reaching indicators not seen at the ASE in a long time.

With the end of last month’s trading sales, pressures would ease, particularly since some investors who have not yet paid fully for their bought shares have settled their debts with financial brokerage firms. This puts the spotlight on June’s trading, which will be characterized by traders’ optimism regarding excelling results for listed companies in the first half of the year, particularly in the banking sector. Banks are expected to set smaller appropriations than those set last year due to the pandemic. Furthermore, sectors are reopening, and global prices are set to jump for certain commodities, including phosphates and potash.

Life springs into economic sectors and activities today, following the end of mandatory closures due to the COVID-19 pandemic, signaling the start of the government’s plan to reopen sectors to reach a safe summer.

The first phase of the government’s plan allows the resumption of a number of economic activities in various sectors that were not permitted in the last period, provided that health protocols and precautionary measures are adhered to.

Businesses opening their doors today are mainly in the sports and tourism sector, including five key businesses: Sports centers and academies, gyms and fitness centers, billiard centers, public pools, and indoor pools at hotels.

The shares of 110 companies were traded on Monday, with the share prices of 45 companies rising, and the share prices of 34 declining.

At the sector level, the industrial index increased by 1.36 percent, the services index decreased by 0.82 percent, and the financial index increased by 0.17 percent.

Read more Analysis.