Trading activity within the region will continue to be influenced by the regional geopolitical environment – Allied Investment Partners PJSC Market Report

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Global equity markets were negatively influenced by concerns over the trade tensions between the US and China. Additionally, disappointing economic indicators, especially from China also weighed on investor sentiment during the week.

However, the global markets recovered part of the losses during the second half of the week on the back of growing optimism that Fed is likely to cut rates to support growth going forward.

For the regional markets, the performance during the week was negative across all the eight indexes. The trading activity in the region was driven down by rising concerns over the regional geopolitical environment, outweighing the positive development from MSCI inclusion during the week. Abu Dhabi was the worst performing index regionally with losses of 6.60%, followed by losses of 3.65% in Dubai, 2.85% in Egypt and 2.65% in Saudi Arabia.

Going forward, the trading activity within the region will continue to be influenced by the regional geopolitical environment. Additionally, the developments in global economies, especially the trade tensions between the US and China will also be closely monitored by regional markets.

Indexes
LastWTD (%)MTD (%)YTD (%)
Dubai (DFMGI)2,575.01-3.65%-6.94%1.79%
Abu Dhabi (ADSMI)4,719.26-6.60%-10.25%-3.98%
Saudi (SASEIDX)8,621.85-2.65%-7.33%10.16%
Kuwait (KWSE)4,761.52-1.44%-0.24%0.48%
Egypt (EGX30)13,659.73-2.85%-8.45%4.79%
Bahrain (BHSEIDX)1,399.58-2.56%-2.40%4.66%
Oman (MSM30)3,858.87-0.11%-2.20%-10.75%
Commodities
ValueWTD (%)MTD (%)YTD (%)
Gold (s/OZ)1277.15-0.66%-0.48%-0.44%
Silver ($/Oz)14.39-2.44%-3.65%-7.04%
WTI ($/bbl)62.761.78%-1.80%38.21%
Natural Gas2.630.46%2.17%-3.17%
OPEC Oil ($/bl)72.212.25%-0.81%34.22%
Copper ($/MT)6040.39-1.83%-5.39%0.11%
Aluminium ($/MT)1848.132.14%1.37%0.28%
FX Rates
ValueWTD (%)MTD (%)YTD (%)
USD/AED3.67280.00%0.00%0.00%
USD/SAR3.7496-0.01%-0.01%-0.03%
USD/EGP16.99-0.70%-0.76%-4.87%
USD/EUR0.89610.70%0.50%2.80%
USD/JPY110.070.12%-1.20%0.47%

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.