GCC Equities Review: Qatar the star but can momentum be sustained? | ZAWYA MENA Edition:
There were several factors behind Qatar's outperformance of other regional markets last year, but the huge inflow of capital from foreign buyers - around $2.3 billion, according to Dubai's Al Mal Capital, more than twice the amount that flowed into Saudi Arabia - clearly played a key role.
Some of these inflows were the result of technical factors, Akber Khan, senior director of asset management at Doha-based Al Rayan Investment explained, but part of it was merely due to the fact there had been a substantial sell-off in Qatar equities in the prior year following the imposition of a blockade on the country by four of its neighbours - Bahrain, Egypt, Saudi Arabia and the United Arab Emirates.
“When the market’s coming off a year down 18 percent, which is what happened in 2017, you would expect a bit of a relief, or some stabilisation in the following year," Khan told Zawya in a telephone interview last week.
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