Regional markets witnessed mixed sentiments due to new US administration and earnings announcements


Regional markets witnessed mixed sentiments during the week mainly due to the uncertainty ahead of the new US administration and further dominated by earnings announcements.

Kuwait continuing its dream run to appreciate by 5.4% during the week, adding to the gains of 4.7% recorded in the previous week, while Egypt witnessed a sharp selloff on the last trading session to end lower by 3.2%. In Egypt, the news about the government considering reintroducing stamp duty on stock market transactions after tax was frozen in 2014 led to a sharp selloff to push the index in negative territory for the week. Kuwait, on the other, recorded strong back to back gains for the week as investors have turned optimistic about market reforms and an increase in government spending on the back of stable oil prices.

After taking a breather, investors once again bought into the Qatari market on the back of earnings and a positive economic outlook. Saudi Arabia remained under pressure, however the losses have narrowed but investors continue to realize profits. UAE markets witnessed a quieter week as investors are awaiting the earnings from prominent companies coupled with global uncertainties.

The week ahead might be important to test the buying momentum in Kuwait, while Egypt might continue to remain under pressure due to the expected stamp duty on market transactions.

Indexes Last WTD (%) MTD (%) YTD (%)
Dubai (DFMGI) 3,690.39 -0.81% 4.52% 4.52%
Abu Dhabi (ADSMI) 4,704.70 0.50% 3.48% 3.48%
Saudi (SASEIDX) 6,875.87 -0.66% -4.64% -4.64%
Kuwait (KWSE) 6,435.75 5.37% 11.96% 11.96%
Egypt (EGX30) 12,806.77 -3.15% 3.74% 3.74%
Qatar (DSM) 10,941.43 2.17% 4.84% 4.84%
Bahrain (BHSEIDX) 1,239.74 2.31% 1.58% 1.58%
Oman (MSM30) 5,734.14 -0.49% -0.84% -0.84%
TR GCC (Reuters) 211.97 1.46% 4.62% 4.62%
DJ MENA 521.31 0.23% 4.45% 4.69%

About Al Masah Capital:

Al Masah Capital is one of the fastest growing alternative asset management and advisory firms focused on the MENA and SEA regions. Established in 2010 Al Masah Capital provides tailored solutions to a broad investor base, offering private equity advisory (across Healthcare, Education, Food & Beverages, Logistics and other consumer driven sectors), asset management, corporate and real estate advisory as well as public market research services.

With operations in Dubai, Abu Dhabi and Singapore, Al Masah advises qualifying investors on growth opportunities in 13 focus markets in MENA and South East Asia.