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From Komfie Manalo, Opalesque Asia:
A study by Menasa Capital Management (MCM), a Dubai-based independent asset management firm focused in the Middle East, North Africa, and South Asia, has found that the revolutions in Egypt and Tunisia have had a deep and wide impact across the Arab World. Further volatility in the regional markets has been exacerbated by the addition of conflicts in Libya and Bahrain which added uncertainty in this area of the globe.
Faris Abdulrazzaq, Senior Portfolio Manager for MCM commented, “Investors seeking to reduce risk were forced to sell out of other Middle Eastern markets, including Qatar and Saudi Arabia. All countries within the Region are different from one another with respect to their social, economic and political challenges. However, we may witness further pockets of unrest across the Middle East. ”
Since Egypt’s successful revolution, which toppled the 30year-rule of strongman Hosni Mubarak, the Egyptian market remained closed. Amongst the regional markets hardest hit by the turmoil were Oman and Qatar, which were down -10.2% and -9.3% respectively for the month of February, while Dubai lost -8.1% and Saudi -6.6%.
Last week, index provider MSCI removed Egypt’s emerging market status after its stock exchange remain closed an ongoing concer...................... To view our full article Click here
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