"Investors are bracing for a roller-coaster ride after shares listed on the UAE bourses started to fall this week after an aggressive rally.
The correction came after weeks of strong gains amid expectations of an upgrade to emerging markets status by the international index compiler MSCI.
"The market is overheating," said Mohammed Ali Yasin, the managing director at National Bank of Abu Dhabi's brokerage arm. "The problem is that the new liquidity is bloating like a balloon. We should have had a few IPO's during this time to suck it all out." The markets have benefited from a trading bonanza over the past year, amid renewed investor interest, boosted by a strong economic recovery and an uptick in merger and acquisition activity in blue-chip companies."
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