A sharp rise in trading turnover shows money is pouring back into Middle Eastern stock markets, after a year in which the global financial crisis and political turmoil in the Arab world kept most markets depressed.
Analysts believe the bulk of the recent buying is by local investors seeking short-term profits, rather than by foreign funds and other long-term institutional investors.
They say the rallies could be cut short if the global financial environment worsens again — for example, if the euro zone debt crisis flares up once more — or if there is a geopolitical crisis such as conflict with Iran over its disputed nuclear program.
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