20/03/2010
Ba Ashen: positive signs of the financial crisis end began to show ... and the current quarter such a «Turning Point».
Positive image of the Saudi stock market anticipates the second quarter.
Saudi shares resume trading today while the positive signals comes in the beginning of the end of the global financial crisis.
The Saudi stock market image, according to observers, exhilarating to some extent, even «before the start of the second quarter», at a time when the positive signals comes in the beginning of the financial crisis end.
According to Dr. Abdullah Ba Ashen, an economic and financial analyst confirms that the beginning of a new mechanism (Working within traded funds) based on the «financial trading tool » in the Saudi stock market, will have a positive impact «before the start of the second quarter».
The Saudi market has ended its dealings last week, rising main index «Tassy» at a rate of 1.65 per cent acquired 108.46 supported above the level provided by the 6600-point collapsed five rounds at the level of 6674.41 points, the highest close since October, 2008 in exchange for closing the week 6565.95 points at the last to succeed in launching a fourth weekly gains in a row and eighth in 2010.
Ba Ashen, the Head of the Board Directors of Tim Wen Financial Consultancy, describes the current quarter as «turning point», explaining that it comes in the middle of the crisis.
The launch of the funds index «will be a strong motivation for traders holding their shares , hoping the new mechanism to raise the market values of stocks as a result of the entry of foreign investors », he sees that this is the best (for foreign investors).
Many observers see that the stock market have strengthened the level of investors in options the Saudi stock market, launching the second-largest market after the secondary bond market.
Dr. draws Ba Ashen notes that «reports comes at the end of the first quarter would inevitably have a stronger effect, because at the end of the quarters of news and rumors, which are usually concentrated on the results of companies (an influential role in market values of shares), In addition to positive expectations on the performance of companies in the first quarter ».
By the end of trading last week, trading volumes recorded 721.42 million shares valued at 16.35 billion riyals, divided into 367.62 deals. While last week trading volumes, which amounted to 571.95 million shares valued at 13.98 billion riyals, distributed over 365 thousand transactions, the general index of the market rose last week by 1.35 per cent.
Al Inma Bank shares last were the most active in terms of size and trading value amounted to 222.57 million shares worth 2.87 billion riyals to acquire its own share of 17.5 per cent of the liquidity weekly and according to the report «direct information», the bank's shares rose by 1.17 per cent to price of 13 riyals per share, its highest close in 2010.
