Saudi Arabia's stock market ended lower on Sunday after U.S. President Donald Trump announced tariffs on Canada, Mexico and China, while the Qatari index gained ahead of several corporate earnings statements.
The U.S. tariffs may impact the Gulf region's economies, given their significant trade ties. Gulf oil exports could also be affected by a potential slowdown in global economic growth, while Gulf investors may see their overseas investments impacted.
White House spokeswoman Karoline Leavitt said the tariffs will be set at 25% for Canada and Mexico, and 10% for China, though it was unclear if there will be exemptions.
Reuters earlier quoted sources saying that Trump would delay collection of the duties until March 1 and offer a limited process for certain imports to be exempted.
Saudi Arabia's benchmark index (.TASI), opens new tab eased 0.1%, led lower by a 1% fall in ACWA Power Company (2082.SE), opens new tab and a 0.2% drop in Al Rajhi Bank (1120.SE), opens new tab.
In Qatar, the index (.QSI), opens new tab added 0.3%, helped by a 0.7% rise in the Gulf's biggest lender Qatar National Bank (QNBK.QA), opens new tab and a 1.2% increase in petrochemical maker Industries Qatar (IQCD.QA), opens new tab ahead of its earnings announcement.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab lost 0.3%, with tobacco monopoly Eastern Company (EAST.CA), opens new tab falling 2.1%.
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