MIDEAST STOCKS-Most Gulf markets ease in line with Asian stocks | Nasdaq

MIDEAST STOCKS-Most Gulf markets ease in line with Asian stocks | Nasdaq

Most Gulf markets ended lower on Tuesday, mirroring Asian shares, as concerns about potential roadblocks to new U.S. President Joe Biden's planned $1.9 trillion stimulus weighed on investor sentiment.

Saudi Arabia's benchmark index .TASI lost 0.7%, weighed down by a 1% fall in Al Rajhi Bank 1120.SE and a 2.2% decline in the country's largest lender National Commercial Bank 1180.SE.

The Dubai index .DFMGI declined 0.9%, its third loss in four sessions, hit by a 1.8% fall in the blue-chip developer Emaar Properties EMAR.DU and a 1.3% retreat in Emirates NBD Bank ENBD.DU.

Abu Dhabi's benchmark .ADI slipped 0.6%, pressured by a 1.7% drop in the United Arab Emirates' largest lender First Abu Dhabi FAB.AD.

The number of daily coronavirus cases in the UAE, a federation of seven emirates, has tripled in the past month. On Monday authorities registered 3,579 new infections and nine deaths. They do not provide a breakdown per emirate.

Forecasts for economic recoveries in the six-member Gulf Cooperation Council in 2021 have been trimmed while expectations for gross domestic product declines last year were mixed in a quarterly Reuters survey of analysts released on Tuesday.

Elsewhere, the Qatari benchmark .QSI, closed 0.3% down, extending losses for a fourth straight session.

The top decliners included Qatar National Bank QNBK.QA and Qatar Gas Transport Co QGTS.QA, which fell 1% and 1.8%, respectively.