Saudi Arabia and Qatar's markets closed higher on Wednesday, supported by gains in world stocks and higher oil prices ahead of a Federal Reserve meeting that may hint at more monetary easing, while other Gulf markets slipped.
Saudi Basic Industries Corp (SABIC) added 1.3 percent after the petrochemicals producer launched a new venture capital arm to invest in new technology.
The kingdom's benchmark rose 1 percent, trimming 2011 losses so far to 6.1 percent. It ended lower on the previous three days after hitting a 12-week closing high of 6,236 points on Saturday.
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