Saudi investments on DFM rise 25% to Dh7.5b in first quarter

Riyadh: Saudi investments in the Dubai Financial Market (DFM) rose 25 per cent to Dh7.5 billion during the first quarter of 2008 compared to Dh6 billion last year. The value of bonds traded by individual Saudis in the Gulf and Arab capital markets reached Dh25.8 million.

According to a latest report, the number of Saudis investing in DFM rose to 41,581 in the first quarter of 2008 compared with 28,569 in the same period last year. This means about 13,000 new investors entered the market.

Among foreign investments, the Saudi market maintained top position in the first quarter with Dh11.8 billion, which makes up 63.5 per cent of the total value of trading by GCC nationals.

In terms of trading volume, Saudi investors comprised 43.8 per cent of 94,839 Gulf investors. This constitutes seven per cent of the volume of investors in the market that accounts for 630,000 investors.

Saudis purchased around 621.6 million stocks for Dh3.5 billion through 67,837 deals in the first quarter of 2008 compared with 402.2 million stocks valued at Dh 3.1 billion purchased during the same period last year.

Saudi investors sold 717.7 million stocks valued at Dh4 billion in 69,270 sale deals compared with the sale of 426.4 million shares worth Dh3.1 billion in the previous year.

Kuwaiti investors are second to the Saudis, purchasing shares worth Dh902 million against sales of Dh859.8 million.

Bahraini investors ranked third, purchasing shares worth Dh835.7 million against sales of Dh468.1 million.

Arab investors purchased 3.4 billion shares worth Dh17.2 billion.