Intraday Market Thoughts

UAE Upgraded to MSCI EM Index

by Ashraf Laidi
May 22, 2014 18:36

A major reason to Dubai's stellar stock market performance (outperforming all indices this year and last) has been Morgan Stanley Capital International's upgrade of the UAE to its flagship emerging markets benchmark index, prompting EM fund managers around the globe to rush into UAE shares. There is also chatter about UAE stocks finding more demand from global fund managers in the event that MSCI upgrades Korea or Taiwan (or both) from its EM classification to that of developed market. The announcement is due on June 10. Full charts & analysis.

Click To Enlarge
UAE Upgraded to MSCI EM Index - Dubai Index Vs Rest May 22 (Chart 1)


Latest IMTs