Abu Dhabi & Dubai Stock Exchanges to Resume Trading March 4th
The markets were suspended by the Securities and Commodities Authority (SCA) on March 2nd–3rd as a precautionary measure following missile and drone strikes over the weekend by Iran.
The UAE’s primary stock exchanges, the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM), are scheduled to resume trading tomorrow, March 4th, following a 48-hour suspension triggered by regional hostilities.
The markets were suspended by the Securities and Commodities Authority (SCA) on March 2nd–3rd as a precautionary measure following missile and drone strikes over the weekend by Iran, which came after coordinated military action by the United States and Israel against Iranian targets earlier in the week.
Regulators described the halt as a ‘cooling-off’ period to protect investors from the kind of volatility seen in neighboring markets. Saudi Arabia’s Tadawul fell more than 4% at the start of the week, while Egypt’s main index plunged over 5%. Kuwait took even more drastic measures, suspending its bourse indefinitely as the security situation evolved.
In addition, some experts suggest that increasing global oil prices, which spiked as the conflict threatened the Strait of Hormuz, could provide a buffer for the heavy energy and banking sectors that dominate the ADX. The SCA has stated it will continue to monitor developments on an hourly basis to ensure an orderly market environment.
