The Arab Monetary Fund (AMF) has issued Issue No. (120) of the Quarterly Bulletin on the Performance of Arab Stock Markets, which reviews performance indicators for the first quarter of 2025. The data revealed mixed performance across Arab financial markets, mirroring similar trends seen in global financial markets—both advanced and emerging—during the same period.
In this context, the AMF's Composite Index, which measures the overall performance of stock markets in Arab countries, recorded a 1.55% increase by the end of the first quarter of 2025 compared to the end of the fourth quarter of 2024. On an annual basis, the index achieved a growth rate of 4.37%.
At the individual market level, five Arab exchanges registered gains in their performance indicators during the first quarter, while ten exchanges saw declines during the same period. The Casablanca Stock Exchange led the list of top performers with a rise of 20.19%, followed by the Tunis Stock Exchange (10.25%), Kuwait (9.66%), Egypt (7.68%), and Amman (6.12%).
On the other hand, the stock markets of Saudi Arabia, Palestine, and Abu Dhabi posted slight declines of less than 1%. Seven other Arab exchanges experienced drops ranging from 1.21% in the Dubai Financial Market to 12.69% in the Beirut Stock Exchange.
In terms of market capitalization, the total market value of Arab financial markets declined by 1.45%, reaching approximately USD 4.32 trillion by the end of Q1 2025—a loss of around USD 63.77 billion compared to the fourth quarter of 2024.
Total trading value also fell by 2.60%, amounting to USD 250.53 billion during the first quarter.
The divergence in performance is attributed to several factors, most notably the global anticipation regarding the implementation of new tariffs announced by the U.S. administration during the first quarter. These measures disrupted supply chains and increased production costs, negatively impacting market indicators.
Conversely, the cautious monetary policies adopted by most central banks—both globally and in the Arab world—helped stabilize short-term lending and financing policies, positively affecting liquidity levels and capital flows across markets, including in the Arab region. Nevertheless, ongoing pressure from escalating U.S. trade policies—particularly with regard to tariffs—remained a key source of concern, raising fears about a slowdown in global trade and rising global inflation.
To download the full Bulletin, click on the link below:
https://www.amf.org.ae/ar/publications/nshrt-aswaq-almal/alnshrt-alfslyt-alrb-alawl-2025