MIDEAST STOCKS-Major Gulf markets rebound as U.S.-China trade war simmers - Reuters:
Major Gulf markets rebounded on Wednesday, mostly on back of their financial shares, after U.S. President Donald Trump dismissed fears of a prolonged trade dispute with Beijing and China’s central bank stepped in to stabilise the yuan.
The offshore yuan pulled back from an all-time low on Tuesday after Beijing appeared to take steps to prevent the currency from weakening further, following a sharp drop that prompted the U.S. government to declare China was manipulating its currency.
Dubai’s index traded 1.3% higher in a boost from real estate stocks which all rose. Emaar Properties increased 1.7% and its unit Emaar Malls gained 3.1%.
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