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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Analysis .. Are the Gulf stock exchanges and Egypt affected by the decline in global markets?

    Rocky
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    Analysis .. Are the Gulf stock exchanges and Egypt affected by the decline in global markets? Empty Analysis .. Are the Gulf stock exchanges and Egypt affected by the decline in global markets?

    Post by Rocky Sat 08 Jan 2022, 6:56 am

    Analysis .. Are the Gulf stock exchanges and Egypt affected by the decline in global markets?
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    An investor follows the trading in the Kuwait Stock Exchange
     January 08, 2022 03:09 PM
    Mahmoud Jamal - Mubasher: Global stock markets ended the first week of the new year with a decline, amid the emphasis on raising interest rates as soon as possible to face the price inflation crisis resulting from the Corona crisis, the rise in treasury bond yields, the decline in gold, and the rise of the dollar slightly.
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    And the US stock indices recorded at the close of trading in the first week of 2022, where the “Nasdaq” index achieved 4.5%, and thus recorded the worst performance since February of last year, the “S&P 500” fell by about 1.9%, and the “Dow Jones Industrial Average” marginally decreased by 0.03%. This was pressured by the decline in technology stocks, which at that time faced the highest selling wave in 10 years, after witnessing record highs since the pandemic.
    And the market's fear of raising interest rates, as it will have a negative impact by reducing the current value of future profits, which will put strong pressure on the shares of fast-growing and high-value companies. Also last week, the European "Stoxx 600" index recorded a slight decline by about 0.3%.
    In light of the turmoil that occurred in global markets at the end of last week, specifically on Wednesday, when the Federal Reserve’s minutes were announced and the statements about raising interest rates, perhaps next March, from US Central Bank officials, attention is turning to the Gulf and Egypt markets, and how will they be affected by that? This is what analysts will explain in the following lines to "Mubasher Information".
    At the end of last week’s trading, the general index of the Qatar Stock Exchange increased by 2.87%, the general index of the Muscat market rose 1.42%, the general index of the Saudi market “TASI” rose by 1.32%, the index of the first market in Kuwait increased by 0.85%, and the main index of the Egyptian Stock Exchange “EGY” rose X 30" by 0.51%.
     
    deserved correction
    Ibrahim Al-Failakawi, economic advisor and technical analyst in the financial markets, said that the Gulf markets did not give any indication of a tendency to sell and correct, and it is expected that the rise will continue during the next week and until the next Federal Reserve meeting takes place on January 26, indicating that the date for raising interest rates will be precisely determined. And its impact on stock trading in the region, which did not reach the same gains achieved by global stocks.
    He pointed out that the rise of most of the leading stocks during the past week indicates that the region's markets and the trends of the portfolios in them are not affected by what is happening in the global markets, which have already become technically worthy correction areas.
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    For his part, Mohamed Gaballah, Head of Business Development and Strategies at Pioneer Securities, stressed that the region’s markets, led by Egypt, are likely to continue its upward path in light of the strong collection processes that occur by major institutions of the leading stocks that move the indicators without paying attention to the global influences from Raising interest and jealousy.
    He pointed out that the main index of the Egyptian Stock Exchange is currently targeting 12,300 points, then 13,600 points, considering the level of 11,800 points is the main support for the market, stressing that the time has become appropriate to return to push the train of government proposals, especially with the start of the second quarter of this year. He pointed out that the optimistic outlook is increasing in light of the trend of major Gulf entities to carry out more acquisitions of companies in strategic areas, which confirms that the Egyptian Stock Exchange and its listed companies have already become attractive to those Arab investments.
    giant entities
    For his part, Hanan Ramses, a financial analyst at Al-Hurriya Securities Brokerage Company, said that the Arab markets have what qualifies them to complete the rise, after they were subjected to a stage of profit-taking and rearranging papers in many investment portfolios, pointing out that the government plans to introduce giant government entities in the coming period. Qualifies the region's markets to receive more hot money, which suffered losses in global markets in light of the recent turmoil.
    She pointed out that the growth rates achieved by many Arab countries make attention and investments turn to their financial markets, stressing that the impact will be minimal with regard to raising interest rates and others.
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    Attracting Investors
    In turn, Mohamed Hassan, Managing Director of Bloom Egypt Investments, said that the Gulf markets are ready to complete the rise and achieve new numbers and support from the direction of governments in the region to provide more procedures, facilities and marketing to reveal more proposals that contribute to increasing the market capital of the stock markets in the region, which is Which in turn is based on attracting foreign investors to the Gulf markets. He advised investors to take advantage of any declines that occur in the region's markets and Egypt to increase weights for further increases.
    He pointed out that the trend of oil prices to rise again will support the rise of the markets, as it will help improve the economic conditions in the Gulf countries due to the main dependence on oil, especially after the decrease in tension and anxiety about the new mutant Omicron, after the production of drugs for treatment of the Corona virus and its variants and proving its effectiveness.
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    Economic recovery
    For his part, Mohamed Atta, director of trading at Universal Securities, expected the region's stock market to continue its gains in the first month of 2022, after it witnessed noticeable purchases after fears of the mutated Omicron declined. In the midst of the economic recovery that is still characterized by the Gulf economies, it is likely that it will continue this year.
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