It is of no surprise that the Dow Jones Islamic Market Index (DJIM) covering Arab stock markets suffered the largest losses in February. Political crisis and civil unrest in Egypt, Jordan, Bahrain, Yemen, Morocco, escalating even to a civil war like in Libya, weighed on the markets.
The turmoil led the DJIM Kuwait Index to drop 8.64% to close at 908.36 (as of February 22’s close of trading).
The DJIM Gulf Co-operation Council (GCC) Index finished down 5.03% at 1293.33 and the DJ Dubai Financial Market (DFM) Titans 10 Index lost 4.83%, closing at 1,977.82. These declines stand in stark contrast to the rise in energy prices, which usually lift Middle Eastern markets.
No comments:
Post a Comment