Business | Markets
Foreigners net sellers on Dubai bourse
Non-Arab foreign investors were net sellers on Dubai's bourse for a second week, offloading Dh243.64 million ($66.32 million) of shares in selling that dragged Emaar Properties to a more than 40-month trough.
- Reuters
- Published: 23:47 August 23, 2008
Dubai: Non-Arab foreign investors were net sellers on Dubai's bourse for a second week, offloading Dh243.64 million ($66.32 million) of shares in selling that dragged Emaar Properties to a more than 40-month trough.
Foreigners sold Dh792.61 million of shares and bought Dh548.97 million in the trading week ended August. 21, Dubai Financial Market (DFM) said.
The index fell 2.5 per cent in the trading week, shedding 1.31 per cent on Thursday to 4,891.15 points, its lowest close since October 2007.
Emaar dropped 2.29 per cent on Thursday to Dh9.39, its worst finish since April 11, 2005, the early days of a stock market rally that took the stock to as high as Dh29.10 in September that year.
The data showed UAE nationals, Gulf nationals and Arabs were all net buyers last week.
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