UAE stock markets continue to tumble



UAE stock markets continue to tumble Dubai: The Dubai stock market fell 5.41 percent in early Tuesday trading while Abu Dhabi's exchange posted a 1.13 percent decrease, continuing Monday's trend of declines in both bourses.

On Monday, the Dubai Financial Market closed down 5.84 percent while the Abu Dhabi Securities Exchange ended trading with a 1.68 percent decline.

The Kuwait market also showed small losses on Tuesday, opening 0.10 percent down, following a 0.79 percent decrease on Monday.

Both the Dubai and Abu Dhabi markets suffered heavy losses last week over Dubai's debt troubles but recovered marginally on Sunday.

The Dubai index plunged 12.5 percent over a two-day trading period last week, while Abu Dhabi's slumped 11.6 percent.

The sharp falls came after Dubai on November 25 requested a freeze of payments on the debt of its largest conglomerate, Dubai World, which is liable for 59 billion dollars.

PTI