In addition, the report stated that GCC governments have taken several measures to stimulate the economy and reduce the impact of the financial crisis. In June 2009 a "slap in the face" was received by the new markets due to the fact that the two Groups of Saad and Al-Goussaibi has adversely affected the markets, especially banking shares due to fears of exposure and the subsequent inability of the two groups to meet their obligations, according to the report.
The report pointed out to the impacts of the continuous rise in oil prices and the improvement witnessed in commodity markets and corporate spending in the second half of 2009. The debt crisis of the Dubai International had a negative effect on the market before the yearend holidays, the report said, adding that this crisis had reflected on the psychological state of the investors.
The Saudi stock market index was the biggest gainer among the indices in the region, with the benchmark at general circulation gains of 27.4 percent, followed by Oman and the UAE markets. The Bahrain market continued to decline steadily during the year as the benchmark of Global Bahraini Stocks was at the level of 116.7 points, a decline by 17.9 percent on an annual basis. Kuwait Stock Exchange witnessed a rise in the volume of shares traded amounted of 31.4 percent.
