MIDEAST STOCKS-UAE, Qatar bourses hit multi-year highs, Egypt up | Reuters:
"* Gulf economies less vulnerable than most to U.S. yields
* Dubai breaks above range of past two weeks
* Union Properties soars once again
* Reduced street violence buoys Egypt
* But extended market rally looks unlikely to many
By Nadia Saleem
DUBAI, Aug 22 (Reuters) - Stock markets in the United Arab Emirates and Qatar rose to new multi-year highs on Thursday despite a sell-off in emerging markets around the world, as retail investors in the Gulf bought selected stocks viewed as laggards. Egypt's bourse rose on the back of a reduction in street violence.
"It's a good surprise to see that the most internationally-linked markets like UAE have been resilient despite the sell-off in some emerging markets," said Sebastien Henin, portfolio manager at The National Investor in Abu Dhabi.
"There is a good dynamic from a macro point of view and financial markets are benefiting from that.""
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