Amman, July 15 (Petra) – The capital market is experiencing a major "qualitative" transformative phase, driving the Amman Stock Exchange (ASE) to performance levels not seen in nearly two decades, the Jordan Economic Forum (JEF) said in a report on Wednesday.

It showcased that surging market capitalization, increased liquidity, and rising stock indices have boosted investor confidence, aligning with Jordan’s Economic Modernization Vision (EMV) to deepen the financial sector.

The market value of listed companies reached a historic high of JD30.5 billion by the end of May 2026, representing a 56% surge, compared to the JD19.5 billion recorded during the same period in 2025. This marks the first time the exchange has crossed the JD30billion threshold, eclipsing its previous record of JD29.2 billion set in 2007, it said.

The expansion occurred even as the number of listed companies fell from 162 to 155, according to the report, proving the market's gains stem from improved corporate valuations and deeper liquidity rather than new listings. The surge pushed Jordan's market-cap-to-GDP ratio to 69.7%, up from 51.5% a year earlier, while the average value of traded shares rose from JD1.9 to JD2.9, the figures showed.

Global commodity shifts pushed the industrial sector to the forefront of the Kingdom's market restructuring, leaving its phosphate and potash giants in control of 42.5% of the exchange's entire value. This growth is anchored by stable local and regional capital, with Jordanians owning 53.7% of the market, Arab regional investors holding 29.6%, and international investors making up the remaining 16.7%, according to the report.

Trading value during the first five months of 2026 nearly doubled year-over-year to JD1.279 billion, while daily average volume climbed to JD12.9 million, up from JD8.8 million in 2025 and JD4.9 million in 2024. The financial sector drove 38% of this activity, with the industrial and services sectors securing 32% and 30%, respectively, it said.

Globally, the ASE's free float market capitalization-weighted index outperformed many regional and international peers with a 45.1% rise in 2025, while the JEF's momentum index has shown accelerated growth since mid-2024.

To attract global institutional investors, the ASE is mandating sustainability reports for flagship ASE20 firms and rolling out an ISSB-aligned ESG disclosure framework, which becomes mandatory in 2027 after an optional run in 2026.

Sustaining this momentum, according to the JEF, will require listing major state projects and large family-owned companies, developing bond and Sukuk markets, and driving digital transformation alongside retail financial education.

//Petra// HA

15/07/2026 15:47:28