|16 September, 2019

Re-escalation of regional geopolitical tension expected to continue to weigh on regional indexes - Allied Investment Partners PJSC Market Report

Global equities closed on a positive note for the third consecutive week on the back of supportive Central Bank policies and improving economic data. Additionally, the unexpected moves by China and the US sparked optimism that both countries might be able to agree to an interim trade agreement.

The data on strong retail sales from the US softened fears of a recession, which was another factor that pushed equity markets higher during the week. Brent crude oil prices dropped by 2.14% during the week on the back of growing prospect of Iranian oil returning to the markets, outweighing the positive global cues.

For the regional markets, the performance during the week was negative with 5 out of the 8 indexes closing in red, while the remaining 3 closed in green. Egypt performed positively with gains of 1.19%, and Saudi Arabia was the worst performer with losses of 2.77%.

Going forward, the trading activity will continue to remain positive on the back of series of hopeful policy measures and supportive economic data. However, investors will also remain focused on the upcoming US Fed meeting as the markets are expecting another 25 bps rate cut. For the regional markets, the re-escalation of regional geopolitical tension will continue to weigh on regional indexes, but this could be partly offset by positive global cues.

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.

For more information, please visit http://aipuae.com/

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