Stocks in Doha are set to finish the year at the most expensive level in nearly 16 months, a sharp contrast to a slump in valuation for peers in emerging markets in 2018, as eased limits on foreign ownership of a number of Qatar stocks sparked brisk investment inflows into the country’s equities.
The estimated price-to-earnings in the next 12 months for the QE Index has climbed to over 13 times, making it 15% more expensive than it was at the end of last year. The increase compares to a drop in valuation of 16% for the MSCI Emerging Markets Index, which has slumped throughout the year and is now trading at 10 times estimated price-to-earnings.
Overseas institutional investors were net buyers of about $2.4bn in equities in Doha this year after several large caps announced easing limits on foreign ownership. That helped an increase in weight in major equity benchmarks and lured investors at a time the country endures a blockade by a group of neighbours.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
China is said to offer path to end trade imbalance with US
‘China growth hits slowest pace in decades in 2018’
Modi’s pre-election handouts to cost India billions, breach fiscal targets: Sources
Ambani to battle Amazon, Walmart in e-commerce
Germany, China vow to open markets, boost financial ties
Ghosn received $9mn improperly from Nissan-Mitsubishi JV
Japan inflation slows to 7-month low in Dec
Stock markets surge on trade talks breakthrough hopes
Car’s death is exaggerated, say people with cars to sell