Moroccan Stock Market Under Pressure as Bond Yields Challenge Equity Valuations

Morocco's MASI index dropped 2.89% this week to 17,303.69 points, despite solid half-year corporate earnings showing 12.9% profit growth. The disconnect stems from highly concentrated earnings growth—driven largely by mining giant Managem—and rising bond yields that make fixed-income investments more attractive. With the market down 8.19% year-to-date and technical support levels breached, investors are becoming increasingly selective about valuations as the traditional safe appeal of equities faces renewed competition from the debt market.

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