|A topsy-turvy May for GCC markets: Markaz-continued
|June 10, 2019----Kuwait Financial Centre "Markaz" recently released its Monthly Markets Review report.
Kuwait Financial Centre "Markaz" recently released its Monthly Markets Review report. Markaz report stated that Kuwait registered the best yearly performance of 17% followed by Saudi Arabia at 8.8%. Kuwait market was resilient to the negative sentiment that prevailed in the regional and global equity markets.
|Kuwait's resilience is noteworthy in an otherwise choppy month where the pan GCC index fell by nearly 5%. The S&P GCC composite index recorded its worst monthly losses in over three years. Trade tensions between U.S.-China and regional geopolitical uncertainties resulted in investor sentiments turning sour despite the positive events in GCC’s equity markets. The global story was no different as the positive start to 2019 for the U.S. and Emerging markets came to a halt. Oil prices also witnessed a decline after registering substantial gains in previous months.