View Full Version : Analytical study: stock trading put 'er in stock market is on verge of collapse

Hue Mi
09-29-2013, 09:03 PM
Analytical study: stock trading put 'er in the stock market is on the verge of collapse (http://www.ikhnews.com/index.php?page=article&id=102764)


29-09-2013 01:43 PM

Baghdad (newsletter). Warned Economist Abdul Latif Salem Al-uqaili, analytical study of stop trading stocks in Iraq market for securities, because it would lead to a collapse in economic activity and financial market in the country.

He said Al-uqaili in analytical study (News Agency): the Iraq market for securities in the capital market is currently the only official in Iraq who invests where many Iraqi and foreign money in Iraqi institution shares in accordance with the law which currently (84), (71) listed on the formal market, which includes large corporations, referred to as (I).

He continued: in addition to (13) companies listed on (ii), which includes small businesses, and in August of the year 2013 updated twist in this market when the stock collapsed the Iraqi collapse and deterioration of the level of trading with a very large proportion increased (10%), the investors offer their shares for sale in large quantities over a purchase.

And more: as well as common in the financial community about foreign investors began to flee the Iraqi capital market, with their sales over purchases for the first time in the history of the capital market, and this is not surprising, because foreign investors are watching the volume of procurement to foreign counterparts, how not to run away from the market and they see lower foreign purchases in Iraq stock exchange market during August 2013 (42%) Procurement of July of the same year, along with low levels of June (60%).

He said Al-uqaili in his study: there is no doubt that every foreign investor, Iraq begins with the escape of capital market while certain of his drops the ongoing procurement levels, as well as decreases in the level of trading wakayama, and I say that this breakdown in Iraq market for securities did not occur due to chance or to the influence of external conditions.

Said: it was the result of administrative decisions taken by securities market management forced them to stop more than (20) trading company as of 4/8/2013, leading to nearly a quarter of the market, as well as shareholder to become just worthless papers.

He noted that the market has not been affected directly the moment this decision; by the remarks made by many market officials on their request of JSC non stop trading stocks, make sure investors inside and outside Iraq that the request went unheeded, as well as the insistence of the SCA (the Government agency responsible for market supervision) for its decision to stop.

He seems to be important is the implementation of the administrative decision, whether right or wrong, whether legal or otherwise. Which led to the implementation of the resolution, despite the damage inflicted exceeds the interests of shareholders to contribute to affect the national economy.

Against the background of this resolution from the index collapsed (119) points at the beginning of the month, down to 113 points on 26/9/2013, meaning the loss of investors (5%) of their wealth during the month and a half.

He noted: Although the slim look to some, but the financial value equivalent (550) billion from the value of their investments, almost no (half a billion dollars) lost their investors within a month and a half by the stroke of a pen from an administrator perched atop a pyramid of the capital market.

No doubt that the Government, the Economic Affairs Committee, House of representatives, and the integrity Commission are invited to address this imbalance, the Valley to the strenuous efforts of all the faithful of the Government, Parliament, the media and the general public to raise Iraq market for securities.

He Al-uqaili study: it keeps the right for everyone to wonder about their losses investors offset heavy, but offset the deterioration of Iraq's reputation, financial market and investor flight from Jr h resolution prepared by specialists in flagrant violation of articles 340 and 341 of the Penal Code, as well as the legacy of Iraq economic interest and the interests of investors /finished/8. h. p/