Mideast Stocks Decline Most in World as Foreign Traders Flee - Bloomberg Business

Mideast Stocks Decline Most in World as Foreign Traders Flee - Bloomberg Business:

"Stocks across the Middle East tumbled as foreign investors exited the region amid a global selloff.
Egypt’s EGX 30 Index led the slump with a 5.6 percent decline, taking its retreat this week to 15 percent. The gauge was the worst performer among more than 90 tracked globally by Bloomberg, followed by Dubai’s measure. The Bloomberg GCC 200 Index, comprising 200 of the biggest companies in the six-nation Gulf Cooperation Council, retreated 2.5 percent to the lowest level since July 2012.
“Foreigners are dumping stocks in the region," said Ahmed Shehada, the Dubai-based executive director for advisory and institutions at NBAD Securities LLC, the brokerage are of the United Arab Emirates’ biggest bank. “Oil has been leading the free fall, China’s been adding to the selling pressure and we can’t dismiss the geopolitical tension in the region. These three ingredients are a bitter meal.""



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