Regional Markets Remain under Pressure due to Weak Oil Prices

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Global equity markets performed positively during the week on the back of encouraging economic data and measures such as slashing tariffs on USD 75 billion worth of US goods by the Chinese authorities. Moreover, investors are hopeful that global economies might be resilient to face the coronavirus outbreak in China.

Regional markets performed negatively during the week with 5 out of the 7 indexes closing in red and 2 closing in green.

The effects of coronavirus outbreak in China is likely to be seen in coming weeks as more details emerge about the impact on business activities. Moreover, investors will be keen to know the progress or steps taken to contain the virus from spreading any further. The regional markets might continue to remain under pressure as weakness in oil prices will weigh heavily on trading activity.

Indexes   Last WT(%) MT(%) YTD (%)
Dubai (DFMGI) 2,769.58 -0.75% -0.75% 0.17%
Abu Dhabi (ADSMI) 5,087.21 -1.34% -1.34% 0.23%
Saudi (SASEIDX) 8,053.09 -2.35% -2.35% -4.01%
Kuwait (KWSE) 4,874.95 -0.96% -0.96% -0.73%
Egypt (EGX30) 14,105.86 1.34% 1.34% 1.03%
Bahrain (BHSEIDX) 1,656.04 -0.10% -0.10% 2.85%
Oman (MSM30) 4,128.89 1.22% 1.22% 3.71%

 

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