Thursday 13 June 2019

Monthly markets review: MENA markets plunge in May; #Saudi stocks worst hit | ZAWYA MENA Edition

Monthly markets review: MENA markets plunge in May; Saudi stocks worst hit | ZAWYA MENA Edition:

Stock markets in the region dropped sharply in May as a plunge in oil prices and global markets weighed on investor sentiment. Trading activity was mainly subdued during the holy month of Ramadan.

The aggregate stock market index of the six Gulf Cooperation Council (GCC) countries + Egypt dropped 2.76 percent during the 31-day period.

Global equity markets and oil prices fell in May on escalating tensions between the United States and China, as U.S. President Donald Trump raised tariffs on $200 billion worth of Chinese goods to 25 percent from 10 percent.

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