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The MSCI GCC Index witnessed a steep decline of 3.8% during August led by fall in four out of seven exchanges, including in Saudi Arabia, according to Kamco Invest, a regional non-banking financial powerhouse based in Kuwait.
The decline came despite oil seeing gains for the third consecutive month on supply cuts and steady demand data.
Qatar was the worst performing market in the GCC during August-2023 with a slide of 7.0% led by decline in almost all indices on the exchange. Kuwait and Bahrain followed with declines of 3.4% and 2.0% while…