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UAE stocks significantly undervalued

New survey says that investors believe stocks on Dubai and Abu Dhabi exchanges are undervalued.

June 15, 2010 3:42 by

Stocks on the Dubai Financial Market and the Abu Dhabi Stock Exchange are seen as undervalued, reports Emirates Business.

Quoting Shuaa Capital’s GCC Investor Confidence survey, the paper says almost a third of those surveyed believe there is potential for a rebound on the DFM as stocks remain undervalued. More than 31 percent also believe the ADX has a positive outlook.

The paper fails to explore the remaining two thirds opinion, however.

In what was a difficult month for the global economy, May saw all Shuaa Capital GCC Investor Sentiment Indices decline, according to the report. The Investor Sentiment Index and all sub-indices have a range between 0 and 200. A number greater than 100 represents positive sentiment, while a number lower than 100 represents negative sentiment. The Index dipped by a marginal 5.7 points in May, although it is still in positive territory at 107.4.

Leading the slide was the UAE Index, which slipped 14.7 points to 104.7. Qatar also recorded a significant decline as it dropped from 131.9 points in April to 121.9 points in the latest survey.

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