Three Gulf Bull Markets in Two Weeks as Saudi Stocks Inch Closer
- Doha's benchmark gauge advances more than 20% since Jan. 18
- Saudi shares up 17% from low; trading in Kuwait rises
The More Shorts, the Bigger Gain
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Gulf Arab stocks are picking up momentum, with Qatari shares on Monday following gauges in Dubai and Abu Dhabi into a bull market.
The QE Index advanced 2.3 percent, taking the measure’s gain since a Jan. 18 low to 22 percent. Abu Dhabi’s ADX General Index entered a so-called bull market on Sunday and Dubai’s DFM General Index reached the milestone last month. The rally has helped lift the Bloomberg GCC 200 Index, a gauge of the biggest and most liquid companies in the six-nation Gulf Cooperation Council, above its 100-day moving average for the first time since July.