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Tadawul rebounds but still off peak
The Tadawul in Saudi Arabia registered a strong rebound yesterday, regaining 2.7% of its total weekly losses, which had reached 9.1% or SR136bn of its market value. The biggest stock market in the region, it is trying to get back to previous highs, following a series of sharp declines after the world financial crisis left a negative impact on the region's markets.
Saudi shares lose SR136bn on the week
Gulf stock markets have concluded the week with a sharp decline, the worst ever recorded, following the collapse of Lehman Brothers. Doha saw the biggest weekly decline, falling by 9.2% followed by Saudi Tadawul 9.1% which lost SR136bn of its market value.
AIG bail-out saves Gulf bourses
Two days after the sharp losses that followed the collapse of Lehman Brothers all local bourses rebounded, regaining some of their losses by responding positively to the announcement that the US administration is to step in to save AIG, the largest insurance firm in the world.
Gulf markets plummet for second day
For the second consecutive day, Gulf markets continued to lose more points following the collapse of Lehman Brothers and the sale of Merrill Lynch to Bank of America. Government investment arms had to interfere to save local markets, the Kuwait government managed to change the 2% decline of KSE into a slight rise, while ADX rebounded up 0.42% following institutionalized interference.
Foreign sales deepen Gulf crisis
All seven Gulf markets have witnessed one of the worst falls so far with sharp retreats, including Doha and Saudi Arabia which didn't see the rise of a single share. For the second consecutive day, Doha lost 7% with a combined loss of 15% in just two days, followed by Saudi's Tadawul down 6.5%, ADX 4.3% and KSE 3.8%.
Worst of days for Qatar and DFM as Gulf markets fall sharply
Gulf markets experienced one of their worst declines since summer, registering new record lows and breaking new benchmarks. Doha witnessed the biggest decline among the seven markets, down 6%, while the combined UAE markets lost Dhs19.2bn, following on from their losses of Dhs51bn last week.
Saudi market welcomes new system with 4% decline
The Tadawul responded to new changes in the pricing units with a sharp decline yesterday, which reached 4% and saw the Saudi market give up the 7,800 points mark for the first time this year. A state of confusion prevailed among brokerage offices, with the implementation of the new price change unit system, which has three standards.
A week of massive decline as UAE shares lose Dhs51bn
UAE shares have suffered a Dhs51bn loss this week, the biggest among Gulf stock markets. Its general index closed down an average 7.1%, thanks to the Dubai Financial Market (DFM) dropping 9.1% and Abu Dhabi Securities Exchange (ADX) 6.4%. Muscat fell 7% for the week, Doha 6%, Kuwait Stock Exchange (KSE) 6%, Tadawul 4.4% and Bahrain 1.8%.
Gulf stock markets hit 2008 low
More losses reported across the region's markets, with insiders blaming investigations and international influences for negative values. For the second consecutive day, Gulf markets have witnessed a painful and sharp decline with Doha only 0.5% away from losing all its gains since the beginning of the year, while Muscat has already lost all of its 30% gains and is now 4.4% down.
Tadawul continues to fall
Moderate rises continue at Bahrain, ADX and Dubai by 0.47%, 0.33% and 0.18% respectively, while Doha rose by 1.2%. Tadawul fell sharply yesterday, losing 2.6%. Muscat market rose by 0.59% one day after a sharp fall, while Kuwait fell slightly by 0.05%.
Gulf shares gather strength, with strong rebound in Saudi Arabia
Gulf stock markets regained some of yesterday's losses, with a strong rebound in the Saudi market, which closed up 4.2%. Elsewhere, markets experienced small rises, with Bahrain up 0.53%, Abu Dhabi Securities Exchange 0.47%, Doha 0.28% and Dubai Financial Market 0.04%. Muscat market which rebounded yesterday, fell back today, losing all Monday's gains, closing down 1.8%, while Kuwait finished trading down 0.23%.
Gulf bourses panic after foreigners flee
A state of panic prevailed among traders today after all bourses declined sharply, except Muscat which rebounded by 2% after 9% loses last week. The rise in Muscat came after a recommendation by the minister of trade during a meeting with pension and investments funds in which he demanded interference by these funds.
Saudi shares plummet ahead of new pricing decision
As usual before any new legislation, the Saudi market saw one of its worst falls in a single session, going down by 7.6%. With this decline, the index broke the 8.000 points mark before finally closing 5.4%.
Muscat loses all the year's gains
With the end of the week, three stock markets; Muscat, Kuwait and Doha, broke strong resistance marks. Muscat lost all of the 30% gains registered since the beginning of the year. Muscat suffered the worst decline today with 3.8% to register a weekly loss of 9.1%, while all other Gulf markets ended the week down.
Dubai and Kuwait buck Gulf markets decline
For the third consecutive day, Gulf financial markets continued to decline. Muscat fell 2.3%, Doha 1.2%, Bahrain 0.40% and Abu Dhabi 0.15%. The Tadawul in Saudi Arabia dropped 0.99% today, and closed the week down 4.4%.
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