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MIDEAST STOCKS-Most Gulf markets in red on regional tensions

ReutersMar 18, 2025 8:40 AM

- Most major stock markets in the Gulf fell in early trade on Tuesday amid rising geopolitical tensions in the region, with the Saudi index on course to end a three-session winning streak.

Israeli air strikes on Gaza killed more than 300 people, Palestinian health authorities said, threatening a complete collapse of a two-month ceasefire as Israel vowed to use force to free its remaining hostages in the enclave.

Meanwhile, President Donald Trump's vowed to continue the U.S. assault on Yemen's Houthis unless they ended their attacks on ships in the Red Sea.

Saudi Arabia's benchmark index .TASI dropped 0.3%, weighed down by a 1.4% fall in Saudi Aramco 2222.SE as the oil behemoth traded ex-dividend.

Dubai's main share index .DFMGI fell 0.5%, weighed down by a 1.1% drop in blue chip developer Emaar Properties EMAR.DU and a 1% decrease in toll operator Salik SALIK.DU.

In Abu Dhabi, the index .FTFADGI dipped 0.1%.

However, oil prices edged higher, due to instability in the Middle East as well as China's plans for more economic stimulus, though global growth concerns, U.S. tariffs and uncertainty over Ukraine ceasefire talks curbed gains.

The Qatari index .QSI added 0.2%, helped by a 2.3% rise in Qatar Gas Transport QGTS.QA.

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