Economy. Global brexit-turmoil is expected to have the Stockholm Stock Exchange to fall sharply when trading starts on Monday. But experts advise against hasty sales of shares.
The stock market turbulence following the announcement that the British want to leave the EU continued on Sunday – in the Gulf. Just as in Sweden, where the stock market was midsummer closed, low equity trading lower last Friday of the Muslim countries.
The six Gulf countries – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates – have invested hundreds of billions of dollars in Britain and other EU countries. Not least, they have great interests in the UK property market. And right property had it especially hard when the new trading week began, reports the AFP news agency.
The basic tip is that even the Stockholm Stock Exchange, falling sharply on Monday morning, as the European trading session kicks off again . But as usual, like the stock experts that savers will have ice in your stomach.
– It is almost impossible to do pareringar at a stage where things have already started to happen, said Peter Malmqvist, chief analyst at brokerage Remium to TT on Saturday.
– I actually think you should take it easy. Ultimately, will not so much happening in the real economy. The financial assets will get to a workout, but this is nothing new Lehman Brothers scenario, said Jonas Olavi, allocation manager at asset manager Alfred Berg.
Friday raged several of the heaviest exchanges in the world with between seven and eight percent. Overall, went capitalization of more than 2000 billion dollars, equivalent to 17 000 billion, are lost. At least repercussions got brexit-shock in the UK – the London Stock Exchange fell by a relatively modest three percent.
Where the strong stock market and currency turmoil an overreaction? Well, at least if you ask the Chinese Finance Minister Lou Jiwei. During a meeting in Beijing on Sunday, he invited market players to calm down and try to see the brexit issue in an objective way.
– The repercussions and the outcome will emerge during the next five to ten years, pointing out Lou Jiwei, according to Reuters.
If the market is listening remains to be seen.