Jordan has said it is unharmed by the current global financial crisis which has swept the famed Wall Street and spread to European markets, local media reported here Friday.
Jordanian Minister of Industry and Trade Amer Hadidi made the remarks in a statement issued on Thursday, according to the reports.
The government was prepared for any emergency that might affect the national economy and formed a special committee to follow up on the repercussions of the crisis and handle any situation that might emerge as a result, Hadidi was quoted as saying.
Meanwhile, the Amman Stock Exchange (ASE) index rose by about 2percent Thursday after four days of decline in a row, and settled at 3,562 points.
Analysts and experts expect the upward trend to continue "stronger" as of next week.
The continuous drop over the past four days in the ASE market was "unreasonable" and "prices of shares were way undervalued," said Jawad Kharouf, president of the Association of Certified Capital Market Professionals.
"I expect the upward trend to get stronger as of Sunday," especially since Thursday big investors started to buy shares in large quantities, Kharouf said.
Nasser Barghouthi, director of a brokerage house affiliated to the Industrial Development Bank, echoed the remarks.
"I have stressed several times that the prices are so much undervalued and it seems confidence in the market was restored and investors started buying," he said.
Source:Xinhua
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