21 November, 2006

Didn't See That Coming - Stock Two-Year Low

Around $1.8bn was wiped from UAE stocks on Monday, leaving market indices at a two-year low. The DFM index fell 1.56%, while ADSM lost 1.59%. In Dubai, Emaar shares closed 2% lower, while telecoms firm Du lost 2.33%. Other Gulf bourses also sufferd losses, with Kuwait down 3.05%, Doha 0.99%, Oman 0.16% and Bahrain 0.59%. Elsewhere in the region, the Amman exchange lost 2.55%, and Lebanon's BLOM index fell 0.82% (ameinfo.com reported)
Wonder why I didn't put my money there. would have got a valid reason to go insane after Monday!!! Don't they do a stock crash ranking, we'd score high, I bet.

5 comments:

Lirun said...

can you tell us more about why you think or why commentators say this has happened?

John B. Chilton said...

lirun,

First tell us why it was high in the first place. That may give you the answer.

bizzwhizz said...

nice perspective JC

Anonymous said...

Not to worry right now, it will go down a lot further when all of us expats leave. There are going to be a lot more bailing out. The telecomms ripoff Etisalat, and the web censors will be glad no doubt. But the big plans that require expats to make happen will not happen. The word is out that this place is on a downward run.

zeeman said...

Well DFM in the past 2 months has risen roughly 25% and ADSM has managed to exceed that. Look stock markets when bullish, can get excessivly overbought and on the way down things my get to a point when rational thinking stops working. Equities as an asset class in my opinion probably the best investment. Its just that you got to know what you are doing.....

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