We’ve been talking a lot about the Egyptian market this year, since it’s been so hot, but for those actually craving something exotic and risky, why not go for something a little interesting.
The stock market that has most consistently ranked as a top performer in the Arab world over the past few years has not been that of Dubai or Cairo, but the Palestine Securities Exchange in Nablus on the West Bank. During the Arab Spring uprising last year, the financial crisis in 2008 and the regional boom year of 2005, the exchange outperformed most regional rivals as listed Palestinian companies reported hefty profits in spite of ongoing political struggles.
Amid the political and economic instability that swept the Middle East and North Africa last year, the Palestinian market ranked second, behind Qatar, as the best performing regional exchange, falling only 2.58 per cent over the course of the year. That compared with 2011 losses of 11.7 and 20 per cent for the markets in Abu Dhabi and Bahrain — two oil-rich Gulf neighbours.
One nice thing about investing in Palestian stocks — as the article goes onto note — pretty much all the bad stuff you cna imagine is already priced in.
Here’s a look at the market since the beginning of 2011.
Photo: Palestine Exchange