03.02 Middle East Stock Markets Reaction to Ukraine Crisis: Zero …
by John Galt
March 2, 2014 14:30 ET
To say the crisis is being played up in Europe is one thing but the reaction of the first stock markets to open since the Russian invasion of the Ukraine was muted at best, irrelevant to even the most seasoned observer. First up for review is the Abu Dhabi General Index moving quietly down 0.29%:
(all charts courtesy of Bloomberg.com)
The Dubai Market in the UAE was down slightly more, some 0.85% but nothing to panic about:
The Kuwait Stock Exchange Index was also a non-event, down only 0.68%:
The Qatar market was also generally quiet until a last minute sell off happened driving the market down 0.57%:
Meanwhile in Saudi Arabia the thought of a war over destroying Russian pipelines into Europe failed to stimulate a stock market rally there either:
And finally, adults in the Middle East room, the Israeli TA-25 was decidedly undecided about what this meant to world affairs but managed a meager gain at the end of the session:
What does this mean? Until there is a major exchange of fire or destruction to either side’s assets, world investors believe that Putin has out played the West once again and there will be no conflict. The key markets to watch tonight will be in the JPY-USD exchange, the USD index, Gold, and Oil. If there is a conflict soon to start, those markets will make major moves as the banksters usually have the inside information as to what trouble they have decided to start next in the world.
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03.02 Middle East Stock Markets Reaction to Ukraine Crisis: Zero …
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