The value of shares bought on the Dubai Financial Market (DFM) by foreign investors this week (February 14th-18th) amounted to almost half of the total value of stocks traded during the period, it has been revealed.
DFM said that foreign investors, or non-UAE nationals, bought shares worth AED 570 million during the week, comprising 47.8 per cent of the total.
In addition it was revealed that the value of stocks sold by foreign investors this week was also close to half the total value (45.5 per cent) at AED 542.4 million. Net foreign investment on the market reached AED 27.6 million during the same period, as aggregate buy.
The news comes after the Dubai Islamic Bank announced a stable net profit of AED 1.2 billion for 2009, demonstrating the bank's resilience in the face of challenging global conditions.
Earlier this month the latest annual review of investment funds by Standard & Poor's Fund Services found that its managers in the Middle East and North Africa are largely expecting markets to rise despite the global downturn.