Saudi Arabia investors are expected to rotate money into petrochemicals stocks on Sunday following sharp gains in the banking sector, and this buying could help the kingdom's index hit new highs. "Investors will rotate money out of banking stocks and into petrochemicals, especially if petrochemical and oil prices are stable," said Musa Haddad, equity fund manager at National Bank of Abu Dhabi's asset management group. Meanwhile Qatar's measure fell 3.1 percent on Thursday, its largest fall in more than three years, as frontier market funds liquidated their holdings ahead of MSCI increasing the weightings for Qatar stocks in its emerging market index. Doha's index had hit a record high after MSCI in mid-August an**unced it would raise the weightings.
09-01-2014, 01:35 AM
MIDEAST STOCKS-Saudis may switch to petchems; Dubai's Emaar to launch malls IPO
العرض الشجري