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Dubai Financial Market eases trade tensions, adds AED 4.5 billion to market value
Tadawul All Shares Index TASI.SA | 11532.00 | 0.00% |
Mubasher - Mohamed Shaker: The performance of UAE stock market indices varied at the close of trading this week, with the Dubai Financial Market rising while the Abu Dhabi Securities Exchange declined.
This performance came amid escalating economic tensions between the world's two largest economies, following the United States' imposition of tariffs on Chinese imports, which prompted China to take countermeasures, imposing tariffs on American imports.
According to data from the UAE's financial markets, the Dubai Financial Market's gains amounted to AED 4.544 billion, while the Abu Dhabi Securities Exchange incurred losses of AED 8 billion.
At the close of trading, the Dubai Financial Market index rose by 0.30 percent, reaching 4,966 points at the end of this week's trading, compared to approximately 4,951 points at the end of last week's trading .
Dubai's market capitalization reached AED 873.476 billion at the end of trading this week, compared to approximately AED 868.932 billion the previous week, with gains amounting to AED 4.544 billion .
In contrast, the Abu Dhabi Securities Exchange index fell by 0.31 percent to 9,157 points at the end of trading this week, compared to approximately 9,186 points the previous week .
The market capitalization of Abu Dhabi stocks reached AED 2.827 trillion at the end of trading this week, compared to AED 2.835 trillion the previous week, with losses amounting to AED 8 billion .