(MENAFN) Share exchanges in the Gulf Cooperation Council states recorded their second monthly decline in a row in June as worries around inflation and recession upset stockholders.
A report by Kamco Invest presented that MSCI GCC Index, which captures the performance of indexes through the region, was dropped 9 percent as it exited its poorest month so far this year.
Oil-rich Saudi Arabia registered the largest fall of almost 11 percent, trailed by Abu Dhabi and Qatar with decreases of 6.8 and 5.6 percent, individually.
The Omani main index resisted the trend to end marginally increased, locking a 0.2 percent earn.
This occurred after concerns around surging inflation and interest rate hikes in addition to the current Russia-Ukraine conflict and China’s COVID-19 restrictions.
That said, the aggregate index is 2.8 percent higher in terms of year-to-date earns, having performed four consecutive months in the positive before witnessing a fall in May.
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