As the earnings-reporting season enters its second week, investors are banking on stronger-than-expected third-quarter profits to trigger a rebound in regional markets after a disappointing year so far.
"We need surprises in profits rather than a sustained continuation from previous quarters," said Mohammed Ali Yasin, the chief investment officer at CAPM Investment in Abu Dhabi. "Markets are so jittery, and unless we see a rebound, we cannot expect any reversal to the continuous downward trend."
The Dubai Financial Market General Index sank to a fresh seven-month low last week, dropping 2.4 per cent to 1,395.43. The measure is down 15 per cent since the start of this year.
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