MIDEAST STOCKS-Most indexes in Gulf gain on stimulus hopes | Nasdaq

MIDEAST STOCKS-Most indexes in Gulf gain on stimulus hopes | Nasdaq:

Most Gulf bourses rose on Wednesday, underpinned by gains in financial stocks, on hopes that a hefty helping of stimulus measures from regional policymakers could limit the blow from the coronavirus.

Saudi Arabia's benchmark index .TASI advanced 1.3%, with most of the banks trading in positive territory. National Commercial Bank 1180.SE and Al Rajhi Bank 1120.SE gained 3.9% and 1.2%, respectively.

Saudi Arabia, which chairs the Group of 20 major economies, announced an extraordinary virtual leaders summit next week "to put forward a coordinated set of policies to protect people and safeguard the global economy."

In Dubai, the index .DFMGI gained as much as 3.2% in early trade, boosted by a 8.9% surge in Emirates Integrated Telecommunications DU.DU and a 1.7% rise in Emirates NBD Bank ENBD.DU.