The worst Qatar stock rout in nine months is creating a buying opportunity for some of the biggest Middle East investors, who say they’re undaunted by speculation the country will lose the right to host the 2022 World Cup.
Qatar’s shares fell for a third day and bonds dropped on concern the Persian Gulf nation may lose the right to host the 2022 soccer World Cup, potentially jeopardizing some of its $200 billion investment plans.
The Qatar Exchange , the Persian Gulf bourse that is 20 percent owned by NYSE Euronext , may implement short selling as well as bond and sukuk trading in the first quarter of next year, Saif Al-Mansoori, the exchange’s deputy chief executive officer, said.
The Qatar Exchange , the Persian Gulf country’s equity market, must draft new listing rules before trading in bonds and Islamic debt can begin, according to Andre Went , the bourse’s chief executive officer .
Doha Bank QSC, the best-performing bank stock on the Qatar Exchange over the past month, opened an office in Australia to take advantage of growing trade between the two countries, Chief Executive Officer Raghavan Seetharaman said in a phone interview late yesterday from Sydney.