Most stock markets in the Gulf retreated on a wave of profit-taking on Tuesday, led by Qatar, where there was a pull-back in some of the top stocks that had shot up before joining MSCI's emerging market index last week.
Qatari stocks fell 1 percent on Monday as the country debuted in MSCI's mainstream emerging index, though firmer Chinese data and expectations of euro zone policy easing lent support to broader emerging market assets.
The entry of the UAE and Qatar into the MSCI Emerging Markets Index - starting from tomorrow (June 2) - will clearly have a positive long-term impact, said a report.
Even though their weight in the index is small, it will prompt a
Most stocks in the United Arab Emirates and Qatar added to MSCI's emerging market index pulled back after making a sustained surge ahead of the upgrade.
Dubai port operator DP World heads losers, tumbling 6.7 percent. Abu Dhab
When index compiler MSCI upgrades the United Arab Emirates and Qatar to emerging market status at the end of this week, it will put those countries on the global investment map. But it may also end the bull runs in their stock markets.
Qatar's main share index surged to a record close on Sunday as investors targeted stocks that will be included in MSCI's emerging market index, while Egypt hit a 69-month peak before this week's presidential vote.
The Qatar Stock Exchange hosted a dinner event in London for senior representatives of sell side brokers and institutions ahead of the MSCI Emerging Markets upgrade.
The event, held at the Dorchester Hotel in London, helped the bo
The UAE and Qatari markets' reclassification to MSCI Emerging Markets will have a significant effect on the index which may lead to more and more institutional investors entering these markets, a positive development for the longer term grow
Stock markets in Dubai, Abu Dhabi and Qatar will see relatively large one-off inflows of money at the end of May as funds tracking the MSCI indexes adjust their positions in line with updated benchmarks.
MSCI will move stocks from
International equity index compiler MSCI has announced the final list of Qatari stocks that will join its Emerging Markets Index upon the upgrade of the Qatari market on June 2.
With this move, Qatar Stock Exchange aims to attract