By: Mahmoud Gamal
Mubasher: GCC stock markets are expected to see more volatility on Thursday as investors tend to change positions after the split over the US interest rate hike and the fall in global stock markets, according to analysts.
European and US stock exchanges closed Wednesday’s trading on a negative note. The GCC bourses also declined collectively yesterday, except the Qatar Stock Exchange (QSE) which rose by 0.3%.
Capital market analyst, Basel Abu Teima, suggested that the fall in GCC stock markets was a natural result of profit taking and the collective selling of some portfolios.
“Investors are confused due to the split over the US interest rate hike,” Abu Teima told Mubasher, expecting the GCC bourses to continue their downward trend next week.
Meanwhile, technical analyst, Hamoud Al-Azmi, believes that fast speculation is the current trend in GCC stock exchanges.
Translated by: Elwy el-Manzalawy
