Global equity markets closed in positive territory for the second consecutive week on the back of improved sentiment and better than expected retail sales in the US. China was one of the best performing markets globally during the week as investors are becoming increasingly hopeful that government will step up stimulus measures to support the broader economy from the impact of US tariffs. Brent oil prices continued the downward pressure as it was down by 2.74% for the week on the back of concerns over future demand and large increase in US crude oil inventories for the second consecutive week.
For the regional markets, most of the regional markets closed in green on the back of positive trend seen in the global markets. Saudi Arabia was the best performing index regionally with gains of 4.99% during the week, followed by 2.85% in Egypt. Abu Dhabi and Oman were the only two markets within the region to close in negative territory with losses of 0.80% and 0.59% respectively.
Going forward, the regional markets will continue to be influenced by funds inflow, especially from international investors. Additionally, investors will also track the geopolitical developments, which can potentially impact the sentiment going forward.
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 2019