UAE investors traded US tech stocks the most in 2022, Saxo Bank says – The National
- Date: 30-Jan-2023
- Source: The National
- Sector:Financial Markets
- Country:UAE
UAE investors traded US tech stocks the most in 2022, Saxo Bank says – The National
UAE retail investors traded US technology stocks the most last year, despite Big Tech companies being hammered globally on excessive valuations and doubts over their earnings outlook, as they cut thousands of jobs amid monetary tightening by central banks and recession concerns.
Meta Platforms was the most-traded stock among Saxo Bank’s customers in the GCC last year, followed by Apple, Amazon, Tesla and Microsoft, the Danish investment bank said on Tuesday.
“The best long-term performance has been found in the technology sector,” Peter Garnry, head of equity strategy at the investment bank, said.
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