DOHA: The Qatar Stock Exchange Index continued to move within the red zone this week, dropping 234,060 points (1.78%) to reach the level of 12,948 points.
Regarding the stock exchange’s performance this week, financial analyst Ramzi Kasmi said in an exclusive statement to the Qatar News Agency (QNA) that the Qatar Stock Exchange Index has built a new support point during the period. said it was in the process of doing so. It notes that it is expected to consolidate between 12800 and 13100 points during the upcoming period, pending the outcome of external factors that have impacted the performance of the general index.
He stressed that investors on the Qatar Stock Exchange are in close proximity to other investors in various global markets, and that declines in these markets, particularly those in the United States, are likely to affect the U.S. Federal Reserve pointed out that it could be explained by the ambiguity surrounding the Board’s decision (central bank) on raising interest rates.
Qasmieh said that while everyone is waiting for a rate hike to be within 50 basis points, given that US employment data confirms that the US economy is not entering, the 75-100 He explained that expectations indicated that it could be raised to the level of basis points. The recession will force the Federal Reserve to make tougher decisions to curb inflation.