US markets ended the week on a negative note after weaker than expected data in Europe and China spurred concerns of a global economic slowdown coupled with ongoing trade tensions between the two largest economies which weighed on investors sentiment.
On the regional front, most of the indices ended the week on a negative note with the exception of Dubai, Saudi Arabia and Egypt. On the losing side, Oman was the worst performer amongst its peers with losses of -2.2% for the week. Followed by Kuwait with a negative performance of -0.4%. Abu Dhabi and Bahrain recorded losses of -0.3% and -0.1% respectively for the week.
On the winning side, Egypt was the star performer with gains of +4.9% for the week. Followed by Saudi Arabia and Dubai with a positive performance of +0.8% and +0.7% respectively.
Going forward, investors are expected to remain on the sidelines as a result of concerns over global growth.
About Allied Investment Partners PJSC
Established in 2007, Allied Investment Partners PJSC is licensed by Central Bank of the UAE and Securities and Commodities Authority, and is a leading investment firm providing various services like Asset Management, Alternative Investments, Wealth Management, Securities and Custody Services, Corporate Finance and Investment Banking Advisory.
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© Press Release 2018