On the international front, fears of trade war between the two largest economies have calmed down leaving most of the indices in green on Friday.
For the month of November, UAE markets came in as the worst performers among their peers which can be attributed to investors moving into other regional markets with positive developments coupled with funds outflow from emerging markets into US markets.
Over the month, DFM and ADSM went down by -4.2% and -2.7%, respectively, followed by Egypt with a negative performance of -1.3% over the same period. Saudi Arabia came in as the best performer amongst its peers with gains of +1.8% over the month, followed by Kuwait, Bahrain and Oman with gains of +0.8%, +0.2% and +0.1%, respectively.
For the coming period, investors are keeping an eye out for the upcoming OPEC meeting in Vienna on 6th December.
|Indexes||Last||WTD (%)||MTD (%)||YTD (%)|
|Abu Dhabi (ADSMI)||▼||4,770.08||-4.3%||-2.7%||8.4%|
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.