Qatar's stock market is the worst-performing in the Gulf so far this year. But a surge in prices this week suggests it could now start to outperform the region, boosted by healthy corporate earnings, traders and analysts say.
The Qatari market has been neglected during the regional bull run that began in January, because investors saw more value in markets such as beaten-down Dubai, up 24 percent this year, and Saudi Arabia, up 21 percent. By contrast, Qatar's main index has gained less than 0.1 percent in 2012.
This pattern could be changing, however. Dubai has essentially moved sideways in the past three weeks while the Saudi Arabian index, while continuing to hit fresh highs, has seen its 14-day momentum - a measure of the strength of its uptrend - fall sharply since early March.
No comments:
Post a Comment