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LEAVE A COMMENT Your email address will not be published.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*
GCC IPO pipeline remains strong in 2022: Kamco
ExxonMobil Qatar recognises Qatargas 'outstanding' safety performance at Laffan Refinery
Globalisation, technology among growth drivers for VCs, says industry expert
QSE declines 0.19% on domestic funds’ net selling
Al-Kuwari participates in 115th extraordinary meeting of GCC Financial and Economic Co-operation Committee
Commercial Bank wins ‘Best Trade Finance Provider in Qatar’ award by Global Finance for 2022
Rising confidence in Qatar banking sector stability seen in QCB's Risk Perception Survey 2021
Saudi Arabia will remain top driver of Middle East IPO deals, says Goldman
Wall Street investors shelter in banks as Fed rate hikes loom