MIDEAST STOCKS-Most major Gulf markets stabilise; #Qatar retreats | Nasdaq

MIDEAST STOCKS-Most major Gulf markets stabilise; Qatar retreats | Nasdaq:

Most major Gulf stock markets steadied on Monday after sharp losses in the previous session, on rising expectations of a coordinated global monetary response to help soften the economic blow of the coronavirus outbreak.

Bank of Japan Governor Haruhiko Kuroda said on Monday the central bank will take necessary steps to stabilise the markets, days after U.S. Federal Reserve Chair Jerome Powell echoed similar views.

Dubai's main share index .DFMGI, which had tumbled 4.5% on Sunday, was up 2.1%. Blue-chip developer Emaar Properties EMAR.DU advanced 3.3% and sharia-compliant lender Dubai Islamic Bank DISB.DU rose 1.5%.

Other gainers included budget airliner Air Arabia AIRA.DU, which opened 3.9% up.

Saudi Arabia's benchmark index .TASI rose 1.8% with Al Rajhi Bank 1120.SE gaining 2.4% and petrochemical maker Saudi Basic Industries 2010.SE increasing 3.8%.