Qatar's bourse fell sharply on Thursday, driven by news of criminal investigations against Fifa soccer officials as well as by profit-taking after an upgrade of some stocks by index compiler MSCI. Most other Gulf markets were also soft.
Index provider MSCI said that it would launch standalone equity indexes for Saudi Arabian stocks from June 1 along with a number of other regional benchmarks in the Middle East.
So far, MSCI only had provisional indexes covering t
Equity markets worldwide climbed to record highs on Friday as solid corporate earnings and an all-time peak for the Nasdaq stock index stoked investor optimism, while the dollar eased on gloomy US economic data.
As Saudi Arabia's $500 billion-plus bourse prepares to open its doors to foreigners in June, outside investors appear ready to accept the political and financial risks as they finally get access to a market that rivals Brazil and Russia'
Morgan Stanley Capital International (MSCI) has announced that Gulf International Services, a Qatari listed company, will be added to its emerging market index.
In its semiannual review announced last week, MSCI also increased the
The Qatar Stock Exchange said it would consult with market participants and issuers next month on improving liquidity in the market, and review the way in which its indexes are calculated.
A committee including brokers, representa
The recent decision by the MSCI Global Equities Index to upgrade its classification of both the UAE and Qatar from Frontier to Emerging Market status will likely result in more stability and greater investment, a finance leader said.
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