The Month That Was - GCC Equity Markets Give up Gains

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The month of August has halted the positive momentum, amongst majority of GCC markets, which prevailed in the recent months as the investors booked pr.....

Summary

The month of August has halted the positive momentum, amongst majority of GCC markets, which prevailed in the recent months as the investors booked profits. Turmoil in Turkey and pull out of much and long awaited IPO of Saudi Aramco contributed to the negative sentiment.

Kuwait all share index lost 0.7% for the month. Despite the losses registered in this month, Saudi Arabian and Kuwait indices’ returns for the year remained healthy at 10.0% and 8.9%, respectively. The average daily traded value of Kuwait All Share index dipped by ~21% in the month of August to USD 69.25Mn as compared to previous month. The liquidity was affected mainly due to subdued trading due to summer month lull.

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The Month That Was - GCC Equity Markets Give up Gains

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