Saudi, Egypt Stocks Turn Mideast Stars as Dubai Gets Ignored - Bloomberg:
"The rise of Saudi Arabia and Egypt as the top Middle East choices for equity investors is taking a toll on Dubai.
Trading on the Dubai Financial Market dwindled to 88 million dirhams ($24 million) on Monday, the lowest since September 2015 and about 57 percent below its 15-day average. The DFM General Index has slumped about 7 percent in 2018, while an index tracking emerging-market peers is little changed. The complaint among investors is that the banking and real estate companies that dominate Dubai’s bourse offer little in the way of triggers to trade their stock, with a few exceptions.
In contrast, Saudi Arabian stocks have climbed more than 12 percent this year, with foreign investors net buyers for 15 straight weeks, as local companies and the government benefit from rising prices for oil, the country’s biggest export. Expectations of billions in inflows to follow classification as an emerging market are adding to the buzz. Over in Egypt, the EGX 30 has gained more than 18 percent as investors applaud economic reforms and government plans to offer stakes in public-owned companies. "
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