Mideast Stocks: Saudi quiet amid haj curbs on foreigners; Dubai extends gains | ZAWYA MENA Edition:
Saudi Arabian shares closed up on Tuesday, reversing earlier losses following the kingdom's decision to bar arrivals from abroad to attend the annual haj pilgrimage due to the coronavirus, while property shares boosted Dubai's index.
Saudi Arabia's benchmark index ended up 0.1%, helped by a 2.2% gain in Dr Sulaiman Al-Habib Medical Services.
The kingdom is to limit the number of domestic pilgrims to around 1,000 to prevent the spread of the coronavirus, after barring Muslims abroad from the rite for the first year in modern times.
Official data showed that Saudi Arabia earns around $12 billion a year from haj and the year-round pilgrimage umrah.
The week-long haj is due to start by the end of July.
Dubai's main share index advanced 1.4%, extending gains from the previous session after the emirate announced on Sunday that it would allow tourists to enter from July 7 in a further easing of its coronavirus-related lockdown.
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