MIDEAST STOCKS-Most Gulf markets fall with Iran ceasefire in focus ahead of Trump's China trip

By Ateeq Shariff

May 13 (Reuters) - Most Gulf stock markets ended lower on Wednesday, as investors monitored a fragile Middle East ceasefire and the upcoming high-stakes meeting in China between U.S. President Donald Trump and Chinese President Xi Jinping.

U.S. Treasury Secretary Scott Bessent has said that the two presidents will discuss the Iran war, and urged China to "join us in this international operation" to open the Strait of Hormuz to international shipping.

But while Beijing worked behind the scenes to convince Iran to hold peace talks with the U.S. in Pakistan last month, analysts say it would not act solely at Washington’s behest.

Saudi Arabia's benchmark index .TASI fell 0.2%, hit by a 2.1% slide in Saudi Arabian Mining Company 1211.SE.

GCC stock markets were mixed today, with investor sentiment still cautious as markets watched for regional geopolitical developments. With the Strait of Hormuz still closed, focus may shift to the U.S.-China meeting and its potential impact on the region, said Daniel Takieddine Co-founder and CEO, Sky Links Capital Group.

Dubai's main share index .DFMGI declined 0.4%, with blue-chip developer Emaar Properties EMAR.DU losing 0.9%.

In Abu Dhabi, the index .FTFADGI added 0.1%, with ADNOC Drilling ADNOCDRILL.AD gaining 0.8% after its CFO told Reuters on Tuesday that the company is prepared to help expand the UAE's oil production capacity beyond its current target of 5 million barrels per day by 2027, if approved.

A unit of state-owned Abu Dhabi National Oil Company said Wednesday that one of its tankers, hit by Iranian drones last week, leaked a small amount of fuel off Oman's coast, highlighting the environmental risks of the Iran war.

The Qatari index .QSI closed 0.5% lower, with the Gulf's biggest lender Qatar National Bank QNBK.QA retreating 1.1%.

Brent crude futures LCOc1 were down 30 cents, or 0.3%, to $107.47 a barrel at 1220 GMT. U.S. O/R

Outside the Gulf, Egypt's blue-chip index .EGX30 retreated 1.2%, as most of its constituents were in negative territory.