Most major stock markets in the Gulf were subdued in early trade on Thursday, with Dubai on track to end three sessions of gains, although Saudi Arabia bucked the trend to move higher.
The benchmark index .TASI in Saudi Arabia added 0.3%, with Saudi Telecom 7010.SE gaining 0.7% while Riyad Bank 1010.SE traded 0.9% up.
Elsewhere, oil behemoth Saudi Aramco 2222.SE was up 0.3%.
Saudi Arabia, the world's biggest oil exporter, beat Russia to keep its ranking as China's top crude supplier in 2020, Chinese government data showed on Wednesday.
Oil demand in China, the world's top oil importer, remained strong last year even as the coronavirus crisis hammered global appetite. Chinese imports rose 7.3% to a record of 542.4 million tonnes or 10.85 million barrels per day (bpd).
In Dubai, the main share index .DFMGI retreated 1.2%, as most stocks on the index were in negative territory including Emirates NBD Bank ENBD.DU, which declined 1.7%.
In the previous session, Emirates NBD advanced over 4% after it reported a 20% increase in the number and value of fund transfers via its DirectRemit platform in 2020.
The Abu Dhabi index .ADI fell 0.9%, hit by a 3.1% fall in Emirates Telecommunications ETISALAT.AD. Financial stocks also drove the losses including the country's largest lender First Abu Dhabi Bank FAB.AD, which was down 0.5%.
The index's losses, however, were capped by gains at aquaculture firm International Holding IHC.AD, which jumped over 5%, after it reported a sharp rise in 2020 profit.
In Qatar, the index .QSI eased 0.3%, with Qatar Fuel Co QFLS.QA losing 1.6%.
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