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MIDEAST STOCKS-Most Gulf markets subdued, in line with Asian shares

ReutersJan 21, 2026 8:39 AM

- Major stock markets in the Gulf were subdued in early trade on Wednesday, tracking softer Asian equities as worries over global trade and geopolitical tensions dampened investor sentiment.

Asian shares fell for a third straight session as tensions rose over U.S. President Donald Trump's threats to acquire Greenland and revive a trade dispute with the European Union.

The MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.5%.

Saudi Arabia's benchmark index .TASI fluctuated in a narrow band around its previous close.

Meanwhile, oil prices - a catalyst for the Gulf's financial markets - slipped as expectations of a rise in U.S. crude stockpiles overshadowed a brief production stoppage at two major Kazakh oilfields and fresh geopolitical jitters tied to U.S. tariff threats amid its push to take control of Greenland.

Dubai's main share index .DFMGI edged 0.1% higher, helped by a 1.3% rise in top lender Emirates NBD (ENBD) ENBD.DU. India's competition regulator said on Tuesday it had cleared ENBD's acquisition of a stake in RBL Bank RATB.NS.

In Abu Dhabi, the index .FTFADGI traded flat.

Separately, Abu Dhabi sovereign wealth fund Mubadala is targeting opportunities in artificial intelligence and robotics, viewing the sectors as a major source of industrial growth and a guide for future investments, its group CEO said on Tuesday.

The Qatari index .QSI added 0.2%, with telecoms firm Ooredoo ORDS.QA rising 2.5%.

Qatari Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani said on Tuesday that Qatar intends to support local firms in competing internationally, indicating fresh measures in the country's drive to diversify its economy beyond energy.

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