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ASE extends losing streak
- Jordanian stocks continued to shed more points this week extending their losing streak into the 6th week in a row. The ASE General Index closed Thursday’s session at 2158.9 points, down by 0.16%, despite a 12.3% WoW increase in average daily trading values. Heavyweights Arab Bank (ARBK, -1.1%), The Housing Bank (THBK, -1.33%), Cairo Amman Bank (CABK, -7.6%), and Jordan Petroleum Refinery (JOPT, -2.44%) weighed on the market while industrial bluechips Arab Potash (APOT) and Al-Eqbal Investment Company (EICO) helped partly offset broader market losses after advancing by 4.10% and 4.12% respectively.
- On the sectoral front, all sector indices closed the week in red except for the insurance (+0.01%), real estate (+0.57%), & industrial (+1.38%) sectors with the diversified financial services sector recording the biggest loss of 1.83% WTD.
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