Issue link: https://maltatoday.uberflip.com/i/1479071
Name Current Change %Change Open High Low Prev. Value Close US MARKETS NASDAQ 13,037.49 -344.03 -2.57 13511.75 13533.78 13032.17 13381.52 EUROPEAN MARKETS FTSE 7,251.31 -246.87 -3.29 7498.18 7498.18 7243.44 7498.18 CAC 6,451.79 -328.88 -4.85 6496.25 6617.09 6433.51 6780.67 DAX 13,854.52 -776.84 -5.31 13989.41 14221.71 13826.70 14631.36 ASIAN MARKETS SGX Nifty 16,141.00 -109.00 -0.67 17052.50 17115.00 15500.50 17063.00 Nikkei 225 25,970.82 -478.79 -1.81 26281.35 26357.58 25775.64 26449.61 Straits Times 3,276.06 -116.94 -3.45 3351.24 3363.17 3248.93 3393.00 Hang Seng 22,901.56 -758.72 -3.21 23268.03 23376.37 22786.39 23660.28 Taiwan Weighted 17,594.55 -461.18 -2.55 17939.53 17939.53 17561.07 18055.73 KOSPI 2,648.80 -70.73 -2.60 2689.28 2694.55 2642.63 2719.53 SET Composite 1,662.72 -33.73 -1.99 1683.92 1690.50 1656.62 1696.45 Jakarta Composite 6,817.82 -102.24 -1.48 6912.48 6929.91 6758.86 6920.06 Shanghai Composite 3,429.96 -59.19 -1.70 3474.37 3486.98 3400.21 3489.15 15.9.2022 7 MARKETS International Markets Global Indices Trading Date: 14 Sep 2022 Gulf stocks sink as markets brace for more aggressive rate hikes GULF markets tumbled on Wednesday as investors bet on the U.S. Federal Reserve taking a more aggressive poli- cy stand to tame runaway inflation. Oil, which fuels the region's growth, was trading on the back foot as more rate hikes in the United States and else- where could slow global economic growth, squeezing oil demand. Gulf Cooperation Council countries are in the firing line of Fed policy moves as five of them have their currencies pegged solely to the dollar and broadly match U.S. mon- etary steps, while Kuwait's dinar is linked to a basket of currencies believed to be dominated by the greenback. Banking shares took the biggest hit across the markets as higher interest rates could curb lending to businesses and households. Saudi Arabia's benchmark index (.TASI) dropped 1.4% as all lenders slipped into negative territory and led other sectors lower. "e Saudi stock market could see more price correc- tions as sentiment among investors deteriorates," said Fadi Reyad, market analyst at CAPEX.com MENA. "e market could remain exposed to oil markets and could see some support if they rise." Egyptian blue chips (.EGX30) lost 1.9% on the wider sell- off, with 27 of 30 stocks pointing lower. In Qatar, nearly all stocks fell, bringing the index (.QSI) down 1.7%. e Dubai index (.DFMGI) shed 0.9%, with heavyweight financial and real estate shares leading the losses. Abu Dhabi equities (.FTFADGI) slipped 0.2%, snapping their longest winning streak of five days in a month. e market received some support from Abu Dhabi Na- tional Energy Company (TAQA.AD), which surged 14.6% after Multiply Group (MULTIPLY.AD) acquired a 7.3% stake in the group in a deal amounting to 10 billion dir- hams ($2.72 billion). Saudi traders monitor stock information at the Saudi stock market in Riyadh