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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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    The rise of most of the Gulf stock exchanges amid optimism about the Chinese demand for energy

    Rocky
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    • Post n°1

    The rise of most of the Gulf stock exchanges amid optimism about the Chinese demand for energy Empty The rise of most of the Gulf stock exchanges amid optimism about the Chinese demand for energy

    Post by Rocky Mon 16 Jan 2023, 9:43 am

    The rise of most of the Gulf stock exchanges amid optimism about the Chinese demand for energy

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    Economy News / Baghdad
    Most of the major stock markets in the Gulf closed higher on Monday, as optimism about the outlook for Chinese energy demand and a softer hike in interest rates in the United States eased investor anxiety, but Qatar Stock Exchange extended its losses.
    Oil prices, a major driver of financial markets in the Gulf, declined, but optimism that lifting anti-Corona restrictions in China, the world's largest importer of crude, would increase fuel demand in the Asian country kept prices near their highest levels in 2023.
    The Saudi index closed flat after the share of the Retal Urban Development Company rose 1.1 percent, and the share of the Saudi Arabian Mining Company (TADAWUL: 1211) declined for the second session, closing down 2.4 percent.
    The Abu Dhabi index rose 0.5 percent, with First Abu Dhabi Bank rising 1.4 percent and Aldar Properties rising 2.3 percent.
    Federal Reserve policymakers on Thursday expressed relief that inflation had continued to fall in December, paving the way for a less aggressive rate hike, possibly a quarter-point, when the central bank meets in less than three weeks.
    Most Gulf currencies are pegged to the dollar, and Qatar, Saudi Arabia and the United Arab Emirates usually follow any change in monetary policy in the United States.
    The Dubai index closed 0.3 percent higher, supported by 1.4 percent gains for Emirates Central Cooling Systems Corporation (Empower) and 0.8 percent for Emirates NBD Bank (DFM: ENBD).
    Meanwhile, the UAE decided to invest $30 billion in South Korean industries as part of the two countries' efforts to enhance their economic cooperation.
    The Qatari index fell 1.1 percent, down for the fifth session in a row, with almost all banking stocks falling. Qatar National Bank was the biggest loser, falling 3.2 percent, while Qatar Islamic Bank fell 3.4 percent.
    Outside the Gulf region, the Egyptian blue-chip index rose 1.8 percent, continuing its rise since Wednesday.

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    Added 01/16/2023 - 6:31 PM
    Updated 01/16/2023 - 6:40 PM
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