MIDEAST STOCKS- #Kuwait bourse gains in early trade, other Gulf markets firm | Nasdaq

MIDEAST STOCKS-Kuwait bourse gains in early trade, other Gulf markets firm | Nasdaq

Kuwait's stock market registered moderate gains early on Monday as investors awaited results from global index provider MSCI's semi-annual review due on Tuesday, while gains in financial and petrochemical shares boosted the Saudi index.

In Kuwait, the index .BKP added 0.6%, on track to extend gains for a third straight session, with Kuwait Finance House KFH.KW rising 0.8% and telecoms firm Zain Kuwait ZAIN.KW up 1%.

The anticipated addition of Kuwait to the MSCI Emerging Market index at the end of November is expected to positively affect the flow of foreign capital in Boursa Kuwait, Kamco Invest said in a research note on Thursday.

The investment group believes that passive flows are expected to reach $2.9 billion in 2020, slightly lower than their previous estimate of $3.1 billion.

Saudi Arabia's benchmark index .TASI gained 0.9%, buoyed by a 0.7% rise in Al Rajhi Bank 1120.SE and a 1.3% increase in petrochemical firm Saudi Basic Industries 2010.SE.

Dubai's main share index .DFMGI edged up 0.1%, helped by a 1.5% gain in blue-chip developer Emaar Properties EMAR.DU and a 0.5% rise in sharia-compliant lender Dubai Islamic Bank DISB.DU.

The Abu Dhabi index .ADI firmed 0.4%, as the country's largest lender, First Abu Dhabi Bank FAB.AD, traded 0.9% higher.

In Qatar, the index .QSI rose 0.5%, with petrochemical maker Industries Qatar IQCD.QAadvancing 1.5%.