PHOTO
Traders monitor screens displaying stock information at Qatar Stock Exchange in Doha, Qatar, in this file photo of November 9, 2016. Naseem Zeitoon, Reuters
Gulf equities have continued to attract strong investor interest from overseas, with foreigners snapping up billions of dollars’ worth of stocks on the GCC markets in just three months.
From October to December 2024, foreign investors, including institutional and retail investors, purchased a net of $3 billion of GCC stocks, according to Kamco Invest.
The strong demand has been driven by robust IPO activity, positive economic data and high oil prices, the asset management firm said.
Most stock exchanges in the region saw significant net buying from foreigners, except Qatar and Oman where foreigners sold a little over $603 million worth of stocks during the fourth quarter of 2024.
In the UAE, total net buys reached $2.4 billion, with foreigners accounting for the majority of the transactions.
In Saudi Arabia, foreign investors secured a net $1.1 billion of equities, while Boursa Kuwait saw net buy trades hitting $156.5 million and Bahrain Bourse recording $1.1 million.
(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com