"Dubai’s benchmark stock index slumped to its lowest in more than a month, leading declines in the Middle East, amid an emerging-market rout after China signaled it will maintain efforts to curb credit.
The DFM General Index lost 1.9 percent to close at 2,255.97 in Dubai. The measure, the second-best performer this year after Ghana’s among 93 benchmarks tracked by Bloomberg, plunged as much as 5.1 percent as volume fell to about a third the 30-day average. Abu Dhabi’s ADX General Index retreated 1.1 percent.
“The higher you rise the faster you fall,” Mark Watts, head of the National Bank of Abu Dhabi’s asset management group, said by phone today. “The United Arab Emirates has had a stupendous year-to-date performance, so it’s only natural that if people are looking to lighten up on emerging-market exposure they will target the ones that have risen the highest.”"
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