MIDEAST STOCKS-Major Gulf markets mixed in early trade | Nasdaq

MIDEAST STOCKS-Major Gulf markets mixed in early trade | Nasdaq

Major Gulf stocks were mixed early on Wednesday in the absence of fresh factors to trade on, with Saudi index on track to extend gains for a ninth consecutive session.

Saudi Arabia's benchmark index .TASI rose 0.3%, with Al Rajhi Bank 1120.SE gaining 0.8%, while Saudi Arabian Mining Company 1211.SE was up 2.1%.

Meanwhile, the kingdom's sovereign wealth fund has increased its holding of U.S. stocks to nearly $12.8 billion in the fourth quarter from $7 billion in the third quarter, according to a U.S. regulatory filing on Tuesday.

Saudi Crown Prince Mohammed bin Salman has long pushed the Public Investment Fund as a central plank in his plan to find ways of driving growth while weaning the economy off its dependence on oil.

In Dubai, the index .DFMGI edged up 0.2%, helped by a 1.6% gain in blue-chip developer Emaar Properties EMAR.DU.

The Abu Dhabi index .ADI eased 0.2%, hit by a 0.5% fall in the country's largest lender First Abu Dhabi Bank FAB.AD.

In Qatar, the index .QSI lost 0.5%, as most of the stocks were in red including petrochemical maker Industries Qatar IQCD.QA, which retreated 1.2%.

Among others, Qatar National Bank QNBK.QA, the Gulf's largest lender, slipped 0.8%.