|15 August, 2019

Trading activity expected to be subdued in a shortened trading week due to Eid Holidays: report

Abu Dhabi performed negatively with a fall of 2.54%.

Global equity markets performed negatively during the previous week on the back of escalating trade tensions between the US and China. Moreover, the markets also reacted negatively to an unexpected drop in China’s Yuan, which was perceived that China might continue to devalue to counter new tariffs being imposed by the US. Brent crude oil prices were down 5.43% during the week, as a surprise build up in US crude stocks amid slowing demand added downward pressure on prices.

For the regional markets, the performance was broadly negative during the week with 5 out of the 8 indexes closing in red, while the remaining 3 closed in green. Egypt and Oman were the best performing indexes with gains of 4.84% and 2.24%, respectively, while Abu Dhabi performed negatively with a fall of 2.54%.

Going forward, volatility will continue to remain at elevated levels due to the uncertainty around the events unfolding in the US-China trade conflicts. For the regional markets, trading activity will be subdued in a shortened trading week due to Eid Holidays.

 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/

For media enquiries, please contact Matrix Public Relations
Krishika Mahesh: Krishika@matrixdubai.com
Or call: 04 34 30 888

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases