Equity Market Rally in the Middle East


CEIC Macro Watch Global #35 - August 29, 2014 Since the beginning of 2013, equity markets in the Middle East have been among the best performing financial markets in the world. Benchmark indices across the Arab countries have been growing exponentially, attracting the attention of both emerging and frontier market investors. The surge has continued this year and by mid-August a number of Middle East stock markets were posting double-digit expansions. The most impressive growth was observed in Dubai (the main United Arab Emirates market) alongside Qatar and Saudi Arabia, where the main equity market indices had surged by 42.78%, 27.94% and 24.06%, respectively, since the beginning of the year. In June 2014, the UAE and Qatar were upgraded from the riskier investor category of Frontier Market to Emerging Market status by the financial index specialist MSCI. Saudi Arabia announced plans to open its stock market to foreign investors for the first time early next year, in an attempt to reduce its oil revenue dependence and to attract more international investment. These positive developments in some of the Persian Gulf countries had a spillover effect throughout the region, resulting in the 18.33% surge of the equity market index in Bahrain and 6.69% growth in Oman this year. By Kamen Parushev Google+ Author Profile - CEIC Analyst Discuss this post and many other topics in our LinkedIn Group (you must be a LinkedIn member to participate). Request a Free Trial Subscription. Back to Blog

1st September 2014 Equity Market Rally in the Middle East

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