Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the ongoing trade war that's been fuelling market volatility.
Saudi Arabia's benchmark index (.TASI), opens new tab gained 0.5%, with Saudi Arabian Mining Company (1211.SE), opens new tab rising 2.2% and Riyad Bank (1010.SE), opens new tab closing 1.4% higher.
Elsewhere, oil giant Saudi Aramco (2222.SE), opens new tab increased 0.4%.
Aramco is in talks to invest in two planned refineries in India as the world's top oil exporter looks for a stable outlet for its crude in the world's fastest-growing emerging market, Reuters reported on Thursday, citing several Indian sources with direct knowledge of the matter.
Dubai's main share index (.DFMGI), opens new tab nudged 0.1% higher, helped by a 4.1% jump in Parkin Company (PARKIN.DU), opens new tab, which oversees public parking operations in the emirates.
In Abu Dhabi, the index (.FTFADGI), opens new tab added 0.2%.
Oil prices - a catalyst for the Gulf's financial markets - were steady as markets assessed the new U.S. tariffs, while concerns about global supply kept prices near one-month highs.
The Qatari index (.QSI), opens new tab concluded 0.5% higher, with the Gulf's biggest lender Qatar National Bank (QNBK.QA), opens new tab gaining 0.9% and petrochemical maker Industries Qatar (IQCD.QA), opens new tab edging up 1.7%.
On the other hand, sharia-compliant lender Masraf Al Rayan (MARK.QA), opens new tab slid 3.4%, as the bank traded ex-dividend.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab rose 0.9%, as most of its constituents were in positive territory including tobacco monopoly Eastern Company (EAST.CA), opens new tab, which was up 2.2%.
Egypt's cabinet approved a 4.6 trillion Egyptian pound ($91 billion) draft state budget for the financial year that will begin in July, a government statement said on Wednesday, as it continues to tighten its finances under an IMF programme.
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