MIDEAST STOCKS-Gulf markets open weaker, Deyaar soars in Dubai | Reuters:
Most Gulf markets opened in negative territory on Tuesday, mirroring a slip in Asian shares after Washington announced new tariffs on Chinese imports, escalating trade tensions between the world’s two biggest economies.
In Dubai, where the index was down 0.7 percent in the first hour of trade, second-tier real estate developer Deyaar Development soared 7 percent to 0.45 dirhams, and was one of the most heavily traded stocks by a large margin.
Shares in the company have rebounded from a five-year low hit last month and last week rose above their 100-day average for the first time since March.
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