Dubai's bourse slips to an 11-week closing low, while markets in Abu Dhabi and Qatar end near-flat, as investors find little reason to add risk amid a lack of positive regional catalysts.
Emaar Properties and Dubai Investments weigh, falling 1.9 and 1.3 percent respectively. Dubai's index sheds 0.5 percent to 1,576 points, its lowest close since Sept. 27. The emirate's market is still up 16.6 percent
year-to-date.
"There's aren't any regional catalysts until Q4 earnings...but there's room for valuations to go up further looking into 2013," says Amer Khan, fund manager at Shuaa Asset Management. "This is especially true for banking names. Many of them are trading at a very significant discount to others in the region."
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