The global financial distress has created a strong link between world stock markets and the oil-rich Gulf but regional bourses remain fundamentally in a better position, a key Saudi investment fund said yesterday.
NCB Capital said the companies in the markets of the six-nation GCC enjoy better asset quality and superior earnings given the massive size of toxic assets in the United States and other Western markets.
In a study, it said it expected an end to the tight relationship between regional markets and those of the West once the global economy begins to recover.
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