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Posted On: 4 August 2008 03:42 pm
Updated On: 12 November 2020 02:08 pm

Gulf markets show mixed performances

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DOHA: Mixed performances still dominate the seven Gulf stock markets. While the two small markets of Bahrain and Muscat have not passed through the correction movement of the other five, they have sustained their positive growth until now. Three out of five markets – Doha, Kuwait, and Abu Dhabi – have overcome their problems and kept their positive performance so far. The Doha Securities Market achieved the best performance compared to end of 2007 and gained 21.43% (The Alshall Qatar Index gained 33.38%) followed by the Kuwait Stock Exchange, which gained 19.26%. Saudi and Dubai markets are the only ones which did not overcome the sharp correction movement. The Saudi market lost an additional 20.8% during the first seven months of the year and the Dubai market lost about 8.9%. What is happening in the two markets is psychological as well as behavioural crises as declining values are restricted to them only while their real estate markets are still active. Correction crises typically hit all assets prices. There will be general but cautious growth in most of these markets until the end of this year. Both the Saudi and Dubai markets are also expected to gradually reduce their losses. n Courtesy Alshall Economic Services. Analyses appearing in this report do not in any way constitute an offer or recommendation to invest in any of the markets described above. Gulf Times and Alshall hereby disclaim any responsibility or any direct or indirect claim resulting from using this report.