The Qatar stock market surged to a record high over 13,000 last week – and then promptly hit the skids. It lost over 5% as concern mounted that Qatar might lose the 2022 World Cup amid allegations of bribery.
The jitters came just as the market was promoted to the MSCI Emerging Markets index. It had previously been a ‘frontier market’, MSCI’s term for a small, illiquid exchange with poor governance.
The upgrade is expected to unlock $15bn of additional investment in the next few years, as the MSCI index is followed by some of the world’s largest asset [...]
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