FEAS Yearbook FEAS Yearbook 2023 | Page 78

About Company

Palestine Exchange

Market Future Development

• Launch PEX new website.

• Conclude the development of PEX CSD system, developed in-house.

• The implementation of “X-Stream” trading platform.

• Introducing new products as per market needs.

• List new family business companies

Established: 1995

Address: Nablus /Rafidya-Asal building -7th Floor

Working hours: 08:00 -15:30

Contact Name: Zakia Naser Hanani

Email: [email protected]

Website: www.pex.ps

- Joined FEAS in 2000-

Nihad Talal Nihad Kamal General Manger

Year in review

The year 2023 concluded tragically, marked by a war that inflicted not only trauma upon Palestinians but also swiftly reshaped global perspectives. The stark images of devastation emanating from the Gaza Strip have profoundly repositioned and revitalized the Palestinian cause after more than 75 years of enduring suffering and devastation under the shadow of a stifled economy, constrained and besieged by the policies of occupation.

In terms of the stock market and the performance of the Palestine Exchange (PEX), which serves as the primary indicator of the economic state, Israeli aggression had a significant impact on the Al Quds Index. Since the commencement of the war on the Gaza Strip in October 2023, the index has experienced a decline of 10.00%.

The Palestine Exchange remains steadfastly committed to an ambitious strategy guided by sound principles, collaborating with all stakeholders as a cohesive team to realign course and provide vital support to the national economy. It's imperative to view the last quarter of 2023 within the context of PEX's achievements across the preceding three quarters. Notable among these achievements is the inclusion of Ibn Sina Specialist Hospital and Amlak Real Estate Company as significant additions to the roster of listed companies. Additionally, the Palestine Exchange has actively participated in various local and regional conferences aimed at enhancing investment awareness. This reflects the Exchange's dedication to promoting financial literacy through seminars, courses, and workshops, which have yielded considerable success in fostering a deeper understanding of financial market concepts and advocating for the importance of investment.

Comparatively, trading value levels for the first nine months of 2023 have seen a decline of 34% when compared with figures from the same period of 2022, with trading volumes amounting to approximately 263 million compared to the previous year's 399 million. However, the market anticipated adjustments to these figures or a return to normalcy, at the very least, with the release of the last quarter's results.

Like any other sector, the securities market is influenced by surrounding events. Additionally, it is impossible to separate the economic trajectory from its political counterpart. Thus, the aggression on the Gaza Strip had negative repercussions on the performance of financial sectors, significantly impacting the value of the main index, which witnessed a tangible decline

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The Federation of Euro-Asian Stock Exchanges