Fearless investors STORM THE BEACHES of the Gulf

Gordon, Michael
June 2003
Middle East;Jun2003, Issue 335, p32
The article focuses on the performance of stock exchanges in the Persian Gulf countries during the war between Iraq and the U.S. With the exception of Bahrain, whose stock exchange has been anaemic for years, returns on the Gulf's markets have been remarkable. Since the beginning of the year 2003, Oman's Muscat Securities Market index has increased by 10%, and despite a large dip in February, 2003 Saudi Arabia's Tadawul All Share index had climbed by more than 14% by mid-April, 2003. But the biggest stars have been the Kuwait Stock Exchange index and the Doha Stock Market General index, which have shot up by 30% and 18%, respectively since the beginning of the year 2003. The Gulf markets, taken as a whole, are arguably the best-performing markets in the world. But as impressive as the news is for Gulf shareholders, these markets are not overly investor-friendly.


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