11/09/2013
The UAE markets are making the biggest one-day gain since 4 years
Gulf index make up half its losses since late August
Gulf stock markets climbed yesterday strongly, DFM jumped 8.5 percent after hopes for avoiding military strike led by US against Syria after Russia offered to work with Damascus to hand over Syrian chemical weapons to international control. But the Gulf markets declined in the last two weeks of the highest levels in several years because of the crisis, which launched waves of selling. So the positive political news pushed individual investors to buy back stock and offset some of the exchanges in the region about half the losses incurred since late August. The UAE market has the largest single-day gain in nearly four years. Dubai financial market index jumped 8.5 percent, although it is still low 8.2% on the highest level in five years, recorded on 25 August. The General Abu Dhabi index jumped to 5.5 per cent.
According to Reuters, said Fadi Mr. President of investments at ING investment management ' market moved by the worst and now move in light of the better prospects. Our vision for the long term is very positive, in terms of ratings and profit and economic forecasts. These short-term fluctuations and uncertainty are the title of the stage '. He said Mohammed Ali Yassin, Managing Director of Abu Dhabi financial services ' that recovery is important and shows that the decline was due to political tensions and not by fundamental factors '. Yassin said that is likely to continue fluctuations in the market in the next few weeks to clear whether there is a possible action against Syria. '' We'll see further selling waves but would be limited in terms of the movement of the cursor prior to regain the market upside '. Qatar exchange index raised 4.9 per cent recovery of the biggest decline in three months, his record on Saturday with the biggest gain in one day during the 45 months. The market approached the highest levels in five years on August 22 before selling wave launches by political tensions.
And after the performance of global markets over the last couple of weeks have made Middle East perform better today with the rise of MSCIA index for emerging market 1.5 percent. Kuwait index climbed 2.9 per cent to 7473 points. Muscat index rose 2.9 percent to close at 6544 points. Bahrain index rose 0.4 per cent, ending his dealings at 1185 points.
