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Qatari investors remain on the sidelines after MSCI EM re-adjustment

: Wednesday, August 20 - 2014 @ 17:17

The Qatar Exchange (QE) 20 Index closed unchanged at 13,682.57 points on Wednesday, August 20. Qatar National Bank (QNB), the biggest lender in the gas-rich country, fell by 1.42 per cent to QAR194.50.

Earlier in the day, Arjuna Mahendran, chief investment officer at Emirates NBD’s wealth management division in Dubai, said, while it was announced that QNB and Industries Qatar – already up by +18 per cent and +10 per cent, respectively, (from their lows in mid 2014) – will have increased weightage in the MSCI indices as their foreign ownership limits have increased, “the surprise Monday removal of a small-cap stock, Mesaieed, from the MSCI EM Index stunned analysts and looks likely to raise volatility in the near term”.

Gérard Al-Fil

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Wednesday, August 20- 2014 @ 17:17 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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