Saudi Gazette - Investors switch to Kuwait, Oman as UAE peters out

Saudi Gazette - Investors switch to Kuwait, Oman as UAE peters out:

"Dubai’s stock index fell for a third consecutive session on Tuesday after the local regulator tightened margin lending rules and some investors started shifting into markets which saw slower growth last year, such as Kuwait and Oman.

Dubai’s index, which hit a five-year peak last week and more than doubled in 2013, fell 1.5 percent, extending a pull-back that began after the Securities and Commodities Authority said it would crack down on unlicensed margin lending.

That prompted some brokers to ask clients to sell shares to lower margin levels.

“I think the market was very stretched and it is completely natural to see some profit-taking now,” said Sebastien Henin, portfolio manager at The National Investor."

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