Egypt now second best-performing stock market in Arab World

Egypt now stands as the second best-performing stock market in the first quarter of the year, according to a recent report by the Egyptian market regulator.

Data from the Egyptian Financial Supervisory Authority’s (EFSA) report showed Kuwait Stock Exchange on top of the list, witnessing a growth of 13.66 percent in the first quarter. Egyptian Exchange (EGX) placed second, with growth rating up to 13.06 percent.

Ranked third, Saudi Arabia’s stock market grew 12.68 percent in the first quarter, the EFSA report added. Bahrain Bourse came in the fourth position, growing 5.69 percent.

Dubai index listed fifth, with a growth rate of 4.15 percent, followed by Abu Dhabi’s stock market, which rose 3.25 percent in the first quarter. Jordan Bourse ranked seventh, recording a growth of 0.29 percent.