Amman, Sept. 20 (Petra) – Foreign investment in the Amman Stock Exchange (ASE) has jumped 32% since the start of 2025, pushing the market value of foreign holdings above JD26.38 billion ($37 billion) by mid-September, underscoring growing international confidence in Jordan’s economy despite regional headwinds.

The surge coincided with the ASE benchmark index breaking the 3,000-point barrier for the first time since 2008. The index reached 3,003 points at the end of last week and climbed further to 3,080 points within five days, marking a 21.7% gain since the start of the year. The ASE20 rose 21.39% over the same period, while the total return index advanced 30.7%.

Minister of State for Economic Affairs Muhannad Shehadeh said the rally reflects the government’s reformist agenda, pointing to more than 160 stimulus measures enacted over the past year under the Economic Modernization Vision. These included legislative and procedural amendments to improve the investment climate and expand opportunities for local and foreign investors. "The sharp rise in foreign participation is a clear sign of confidence in Jordan’s economic recovery," he said, adding that such inflows also boost liquidity, create jobs and support long-term growth.

The ASE’s chief executive, Mazen Wathaifi, said the value of foreign ownership had risen JD6.38 billion since January, with the top 20 nationalities accounting for JD10.14 billion. Indian investors led the pack with JD1.8 billion, recording the largest net increase at JD844 million, or 88%, since the start of the year. Kuwaitis followed with JD1.48 billion, then Saudis with JD1.29 billion, Bahrainis at JD959.8 million and Emiratis at JD836.6 million. UAE holdings rose 66%, or JD332 million, marking the second-highest relative growth. Chinese investors also expanded their stake by 26% to JD780 million, while funds from offshore centers such as the Cayman Islands and the British Virgin Islands added to the exchange’s increasingly diverse investor base.

The market’s momentum has been reinforced by strong corporate earnings. Listed companies’ profits grew 9.4% in the first half of 2025 to JD1.059 billion, compared with the same period in 2024. They posted a record JD2.072 billion in full-year earnings in 2024. The market capitalization of listed firms rose to JD23.6 billion from JD17.69 billion at the start of the year. Some foreign investors have realized returns of up to 88%, while the average total return stood at about 35%.

"These results demonstrate the resilience of Jordan’s economy and confirm the ASE’s role as a key gateway for international capital," Wathaifi said. He added that the positive momentum is expected to continue, supported by strong corporate results, government stimulus and the ongoing rollout of projects under the modernization vision.

//Petra// AA