Gulf bourses head down


15 January 2007,

The Saudi stock market slumped to a 27-month low on Sunday, and other major Gulf bourses suffered significant declines. Dubai shares fell 1.74%, Abu Dhabi (1.26%), Kuwait (1.34%) and Doha (2.3%). Analysts see no respite from the bearish mood of stock investors, at least until year-end company results start to come out.


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http://www.ameinfo.com/107716.html

According to an analyst I spoke to yesterday, he thinks that the Saudi market still has a way to go. He expects it to fall as low as 5,000.

Interesting times. Fasten your seat belts.

hopefully Saudi regulatory bodies will have learned their lesson and actually do their jobs.

It's too late to learn any lesson. Maybe the Kuwaiti authroties should learn the lesson. The only major gulf market that is still in a relatively good position.

HiJazzey is right! I wouldn't be surprised if the market drops even farther. The Saudi bourse is still fairly over-valued. Plus, to my understanding, many of the investors on the market (especially the smaller, retail invetsors) have withdrawn the majority of their funds and are injecting it into other avenues...what I hear real estate is one of the main channels where money is going. Can anyone corroborate that?