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9/4/23, 1:21 PM Uae Equities Buck Global Downtrend In August | MENAFN.COM
Uae Equities Buck Global Downtrend In
August
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9/3/2023 11:27:43 PM
(MENAFN- Khaleej Times) The financial markets bucked the global and regional downtrend in
equities last month, a recent report showed.
According to KaInvest's GCC Markets Monthly report, GCC equity markets witnessed its first
decline in three months taking cues from the worst monthly performance in global equity
markets this year.
Despite a second half recovery, the MSCI World index was down 3.6 per cent during August-
2023 after a hawkish Fed led to fears of higher for longer rates with some economists even
pricing-in another rate hike this year and the first cut deep into next year. Weak data coming
from China also affected sentiments across the board that got exacerbated by probability of a
continued rate hike by the ECB in September-2023. China's economic activity continued to
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