Jordan reopens stock market after two months, value falls
Jordan's stock market resumed trading after a two-month shutdown amid the coronavirus crisis, but stocks continued to fall.
Jordan’s stock market starting trading again Sunday for the first time in two months.
Jordan’s security and exchange commission suspended the market March 16 to prevent further falls during the coronavirus crisis in the country, but reopened it Sunday, according to Reuters. Jordan had one of the strictest lockdowns in the world, which helped mitigate COVID-19’s spread but significantly damaged the economy.
The market continued to fall after the reopening, with the value of the companies on the Amman stock exchange falling by 297.5 million Jordanian dinars (around $420 million). This is a drop of 2.3% in the market’s total value, according to the state-funded Al-Mamlaka TV.
Jordan is in the process of reopening its economy following the lockdown. Late last month, the Hashemite kingdom allowed people to drive again and businesses to reopen.
