Global equity markets continued the downward trend during the week on the back of rising trade tensions and geopolitical uncertainty. Equity markets around the world performed negatively during May as investors reacted to the renewed trade tensions, coupled with softening economic indicators. Brent oil prices recorded one of the worst weekly drops for the year, down by 8.75% during the week.
For the regional markets, the performance during the week was positive with six out of the eight indexes closing in green while the remaining two closed in red. The MSCI inclusion and early signs of improvement in geopolitical environment supported the positive performance in regional equities during the week.
Abu Dhabi performed positively with gains of 4.74%, followed by gains of 1.78% in Bahrain, while Saudi Arabia and Egypt were marginally lower during the week.
Going forward, the trading activity within the region will be subdued due to Eid Holidays. Moreover, sentiment will be dominated by the developments in the regional geopolitical environment and rising trade tensions between the world’s two largest economies.
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