December 2008 “Islamic Market’s Measure” – Preliminary Report -Monthly Report On The Performance Of The Dow Jones Islamic Market Indexes

Based on the close of trading on December 22, the global Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shari’ah compliant stocks globally, lost -0.08% month-to-date, closing at 1698.95. In comparison, the Dow Jones Global Titans 50 Index, which measures the 50 biggest companies worldwide, posted a loss of -2.01%, closing at 140.42.

• The Dow Jones Islamic Market Asia/Pacific Titans 25 Index, which measures the performance of 25 of the leading Shari’ah compliant stocks in the Asia/Pacific region, increased 5.56%, closing at 1368.51. The Dow Jones Asian Titans 50 Index, in comparison, gained 6.78%, closing at 102.05.
• Measuring Europe, the Dow Jones Islamic Market Europe Titans 25 Index, which measures the performance of the 25 of the leading Shari’ah compliant stocks in Europe, closed at 1687.88, a gain of 3.10%, while the pan-European blue chip Dow Jones STOXX 50 Index is up 2.85%, closing at 2104.46.
• Measuring the performance of 50 of the largest Shari’ah compliant U.S. stocks, the Dow Jones Islamic Market U.S. Titans 50 Index decreased, closing at 1758.68. It represents a loss of -2.13%. The U.S. blue-chip Dow Jones Industrial Average decreased -3.50%, closing at 8519.77.

Asia: Performance of Dow Jones Islamic Market Versus Conventional Dow Jones Indexes

In December, the Dow Jones DFM Titans 10 Index, measuring the 10 largest and most liquid stocks listed on the Dubai Financial Market, closed at 2344.72. It is a loss of -9.05% month-to-date.

The Dow Jones Islamic Market Kuwait Index posted a loss of -11.43%, closing at 907.29. Its conventional counterpart index, the Dow Jones Kuwait Composite Index, was down, closing at 251.01. It represents a loss of -11.12%.

The Dow Jones Islamic Market Turkey Index closed at 1954.45, a performance of 0.98% month-to-date, while the Dow Jones Wilshire Turkey Index closed at 574.92, a gain of 3.62%.

Measuring the performance of Shari’ah compliant stocks of five of the Gulf Cooperation Council (GCC) member states, the Dow Jones Islamic Market GCC Index closed at 1182.57, a loss of -6.87%. The conventional Dow Jones GCC Index was down -7.32%, closing at 1393.17.

Other Markets and Asset Classes

The Dow Jones Islamic Market BRIC Equal Weighted Index increased 1.67%. It had a closing value of 946.79. By comparison, the Dow Jones BRIC 50 Index closed at 327.23, a gain of 5.91%.

The Dow Jones Citigroup Sukuk Index, which measures the performance of global bonds complying with Islamic investment guidelines, decreased -1.45%, closing at 91.38.

The Dow Jones Islamic Market Sustainability Index, which measures sustainable practice business of companies respecting the Shariah laws, increased 1.28%, closing at 1773.11. The conventional Dow Jones Sustainability Index gained 0.69% with a closing value of 748.31.

Global December 2008 Industries Winners and Losers

The three best performing Dow Jones Islamic Market Industry Indexes were Health Care, Consumer Services and Telecommunications, with performances of 4.72%, 2.24% and 2.11%, respectively. The Dow Jones Islamic Market Oil & Gas, Dow Jones Islamic Market Consumer Goods and Dow Jones Islamic Market Financials indexes were the three worst performing industry indexes with performances of -8.04%, -2.24% and 0%, respectively.