Inconsistent & divergent regional trading patterns seen as buyers and sellers pick different trades
Source: Al Masah Capital , Author: Posted by BI-ME staff
Posted: Sun October 30, 2016 12:04 pm

UAE. October trend lines stayed the same with buyers focused predominately on Saudi and Egypt as well as potential oil deal and value buying, allowing Saudi to gain 5% on the month.

Egypt continues to be buoyed by the upcoming devaluation although the uncertainty over timing is causing volatility to spike; nevertheless October’s 5% gain is added to Egypt’s annual return of nearly 20%, reports Al Masah Capital Limited.

Whilst buyers focused on these two countries, UAE took the brunt of the sellers focus. Both Dubai and Abu Dhabi dropped 5% and 4% respectively. The selling pressure has reduced Dubai’s once stellar annual 2016 returns to just 5% while Abu Dhabi is in danger of falling back into the red.

The mixed trading being seen across the regional markets and with various trend lines and different trading patterns is causing investor anxiety to increase and buying conviction to deteriorate.

October’s average return across all regional markets is hovering around 0%; this is directly reflective of the average annual 2016 return which is also around breakeven. As we head into November, no one is certain where the markets will end up.

Could it be like 2014 when the last quarter destroyed the markets or would it be like 2013 when the markets closed on a high? The first few week of November may provide the answer with numerous triggers like oil, earnings and US elections ready to fuel the markets.

In order to be prepared for market movements that create profit opportunities you can open an online trading account with a regulated broker.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: January 21, 2018
UAE. The risk landscape in the Middle East is changing rapidly. Every day brings new challenges that considerably alter how companies respond to and manage risk; Organisations can remain strong and resilient by proactively adapting to these trends.
date:Posted: January 20, 2018
LONDON. The impact of machine learning applications - from machine vision to voice recognition - will be massively enhanced via the deployment of 800,000 machine learning centric chips in data centres this year, roughly quadruple the volume in 2016.
date:Posted: January 20, 2018
UAE. A large youth population, fast- improving mobile connectivity and a flood of new streaming platforms into the market will drive growth.
UAE. The risk landscape in the Middle East is changing rapidly. Every day brings new challenges that considerably alter how companies respond to and manage risk; Organisations can remain strong and resilient by proactively adapting to these trends.
dhgate