Dubai's bourse rose to a 32-month closing high in heavy trade on Sunday as it tested, but failed to break, long-term technical resistance. Most regional markets also gained.
The Dubai index, buoyed by a budding recovery in the real estate market and the belief that the emirate has largely put its 2009-2010 corporate debt crisis behind it, climbed as high as 1,803 points before it finished up 1.0 percent at 1,792 points, its highest close since April 2010.
The index was testing major chart resistance between 1,778 points, the 2012 high hit in March last year, and the October 2010 peak of 1,793 points.
MIDEAST STOCKS-Dubai hits 32-mth high; most regional mkts up | Reuters
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