Saudi Tensions Add to Dubai Stock Market's Worst Year Since 2008 - Bloomberg:
Traders are running out of reasons to stay in Dubai’s stock market as it heads for its worst year since the 2008 debt crisis.
Dubai’s main equities gauge has lost 19 percent this year, pressured mostly by real-estate developers. The index is now caught between increasing geopolitical woes centering around its neighbor Saudi Arabia and those emanating from global emerging markets.
Saudi Arabia’s main index climbed 1.8 percent for the week as of Tuesday’s close. That followed a slump on Sunday amid the growing diplomatic row over the disappearance of Saudi column-writer Jamal Khashoggi, and analysts speculated that government-related funds were subsequently used to boost the securities. In Dubai, the benchmark showed no recovery and is down 1 percent for the week.
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