Increase in foreign ownership will restore QSE Index – The Peninsula

Increase in foreign ownership will restore QSE Index – The Peninsula

Doha: Qatar Stock Exchange (QSE) index continued its decline for the second week in a row, to fall below 12,000 points, breaking the support point of 12,500 points, to lose 808.610 points in the fourth week of this June, by 6.440 percent, and fall to 11,753 points.

In a statement to Qatar News Agency (QNA), the financial analyst Tamer Hassan attributed the decline recorded in Qatar Stock Exchange index in its weekly dealings to the pressures imposed by the rise in interest rates on the Qatari market with the accompanying sales of local portfolios, in addition to the negative effects of the Russian-Ukrainian war and the repercussions of the recession which pushes oil prices to decline.

He said that the continuation of raising the interest rate by the US Federal Reserve confused the financial markets and is expected to further deepen the losses of the stock exchanges regionally and internationally.

The weekly report of the Qatar Stock Exchange indicated a decline in the market value at the end of the week’s trading to reach QR659.723bn, compared to its level last week of QR705.803bn, a decrease of 6.52%.

Hassan expected that Qatar Stock Exchange index would witness positive movement in the coming period, supported by