After a fabulous January where S&P GCC Index zoomed by nearly 7%, the month of February marked a pull back where the index retreated by 1%. At market level, some continued their upward trajectory (UAE, Bahrain and Kuwait) while others (KSA, Qatar and Oman) pulled back from their earlier rally. Globally, easing of U.S. China trade concerns and the prospect of reaching a trade deal buoyed the equity performance. In the FOMC meeting, U.S. Fed reiterated its stand to keep the interest rates on hold, which added further impetus to the rally. As a result, U.S. S&P 500 index extended its gain for the year to 11.1%. China‘s Shanghai A-Share index surged by 13.8% in February as conducive policy environment, easing concerns pertaining to trade war and improving sentiments resulted in increased inflows.