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I was able to find the following articles providing insights on the
state of the equities market in Qatar.
?The Doha Securities Market (DSM) is considered the second most active
stock market in the Middle East and North Africa. DSM has grown from
2, 323.84 points in 2002 to 3, 946.70 at the end of 2003, an increase
of approximately 70 percent. In 2003, DSM has attracted approximately
USD 26.7 billion in investment. DSM has benefited from Qatar?s current
economic boom, low remuneration of bank deposits, an excess of
liquidity in the economy and policies that foster an open economy
attractive to the private sector and foreign investment.?
?Qatar?s current regulations allow foreigners to invest in two stock
options, Qatar Telecom (Q-Tel) and Salam International Investment.
Gulf Cooperation Council (GCC) nationals are allowed to invest in up
to eight stocks. In December 2003, the Cabinet of Ministers approved a
law allowing foreigners to own up to 25 percent of a company listed in
the DSM. The implementing regulations for this law are expected in
2005. In May 2004, the Ministry of Economy and Commerce issued the
implementing regulations for the Mutual Fund Law (Law. No 25/2002),
which allows expatriates to invest indirectly the stock market. No
bond loans have been traded on the DSM.?
?2005 INVESTMENT CLIMATE STATEMENT ? QATAR?
http://www.state.gov/e/eb/ifd/2005/42107.htm
?In terms of trading activities, the Doha Securities Market revealed a
new record of achievements for the period ending 2003 when compared to
2002. In 2003, the trading value were significantly increased to
achieve another milestone of success to record at QR 11.7 billion or
by 264.6% in comparison to QR 3.2 billion in 2002.?
?During the periods between 2003 and the end of August 2004, six newly
traded companies were added to the family of DSM?s listed companies. ?
?General Information about Qatar?
http://english.dsm.com.qa/site/topics/static.asp?cu_no=2&lng=1&template_id=118&temp_type=42&parent_id=16
?30 out of 31 listed companies at the DSM have reported net profits of
QR 2,672.672 million (over QR 2.67 billion), in the first quarter of
2005, showing an impressive 35% growth over the figure in
corresponding period in 2004.?
?The net profits of the banking sector (six listed banks) in Q1 of
this year were QR 937,419 million as against QR 450,096 million in Q1
of 2004, representing an incredible 108.3% rise. The sector outpaced
all after sectors in terms of Q1 2005 net profit growth.?
?NET PROFITS OF LISTED COMPANIES GROW BY 35% IN Q1 THIS YEAR?
http://english.dsm.com.qa/site/topics/article.asp?cu_no=2&item_no=1024&version=1&template_id=45&parent_id=23
?There have been a number of economic reforms in the past couple of
years ? the latest of which was the opening up of the Doha Securities
Market (DSM) to foreign investors, and expatriate residents of Qatar,
from April 3 this year. Previously, investors could only trade shares
of only two listed companies ? Qatar Telecom (Qtel) and Salam
International ? but now the whole spectrum is open to them.?
?Al-Thani says that there was a need for greater transparency in DSM
operations, although he believes all the private companies listed are
on the right track, as far as their operations are concerned. But he
told Gulf Business of his concerns regarding the slow pace of
development in Qatar?s private sector.?
?Miles to go?
http://www.gulfbusiness.com/html/articleview.asp?cid=1413
?These securities have appreciated in price by an arithmetical average
of 24.2% since the beginning of the year, with Qatar National Bank
registering the highest price increase and Qatar Insurance the largest
price decline among their peers. All related P/E and P/B ratios have
also appreciated since, as shown in Table A, which compares individual
stocks? P/Es and P/Bs against their 2004 levels, and against their
direct peers, their sector and the market in which they are traded
in.?
?ALSHALL WEEKLY QATAR ECONOMIC REVIEW?
http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=34400&version=1&template_id=48&parent_id=28
--------------------------
Even with this rosy picture of the market, some observers feel that
the Doha Securities Market is expanding very fast and could be ripe
for a downturn.
?Volatility is clearly in evidence at the Doha Securities Market, the
youngest of the Gulf stock markets which was founded in 1999. This
relative youth means that the DSM has never had a serious crash in its
history, having missed the 1998 Asian crisis due to its non-existence
at the time.?
?However, with shares up 98% so far in 2005 even the most seasoned
commentators are beginning to look askance at the outlook. What goes
up like a rocket usually falls back to earth on a similar flight
path!?
?Doha Securities Market: how much higher can share values go??
http://www.ameinfo.com/58305.html
In it?s last trading some DSM analysts feel that the market is in a
state of correction right now.
?A market analyst said investor appetite was hardly visible yesterday.?
??I believe many investors think the market is on an extended
correction. Factors that can possibly lift the market are not seen. On
top of that the listed companies have already issued their Q1
results,? he said.?
?Qatar Share Index drops 248.8 points as most stocks fall?
http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=35942&version=1&template_id=48&parent_id=28
Search terms used:
DSM Qatar IMF growth charts ?stock market? economy outlook performance 2005
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