Saudi and Dubai Markets perform well in comparison to regional counterparts- Al Masah Capital Weekly Report


Regional markets ended the week with mixed performance

al masah capital logoQatar witnessed profit taking from investors now that the market has absorbed the FTSE inclusion news, with the market’s major index going down by 2.7%, to be the worst weekly performer among its peers. Abu Dhabi and Kuwait also ended the week in the negative territory with each going down by 0.87% and 0.36% respectively. Egypt ended the week almost flat while Saudi and Dubai markets were both up by 0.8% and 0.6% respectively.

Al Masah Capital weekly Report indicates “Brent Crude oil prices reached a low of USD45.38 and bounced back to the USD46 levels with investors waiting for any news regarding oil output freeze, especially after the Russian President was quoted saying that such a decision would be the right one”. With Saudi being shut for the whole next week due to Eid holidays and the rest of the regional markets also having a truncated trading week, volumes may dry up as we head into this week with investors willing to sit on the side-lines.

However, August ended in the red, albeit not by much so some buyers may step in where they see value. Each market will attempt to dictate its own trend as we head into the last 4 months of the year with September price action quite possibly determining how the year ends. No major news for international markets last week although US jobs figures missing markets’ expectations reflected positively as a Fed rate increase may now be delayed.

Indexes Last WTD (%) MTD (%) YTD (%)
Dubai (DFMGI) 3,511.77 0.56% 0.21% 11.45%
Abu Dhabi (ADSMI) 4,480.65 -0.87% 0.22% 4.03%
Saudi (SASEIDX) 6,021.81 0.75% -0.95% -12.88%
Kuwait (KWSE) 5,409.21 -0.36% -0.19% -3.67%
Egypt (EGX30) 8,136.44 0.06% -0.26% 16.14%
Qatar (DSM) 10,836.74 -2.68% -1.39% 3.91%
Bahrain (BHSEIDX) 1,143.32 -0.27% 0.10% -5.97%
Oman (MSM30) 5,714.35 -1.87% -0.36% 5.70%
TR GCC (Reuters) 199.03 -1.27% -0.40% 2.36%
DJ MENA 476.06 -0.08% -1.35% -4.39%

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.