On Monday, Trump revealed plans to impose tariffs on imported computer chips and certain metal imports, among other products. This move is likely to affect industries from technology to manufacturing and may have far-reaching consequences for the global economy.
Saudi Arabia's benchmark index (.TASI), opens new tab gained 0.4%, led by a 1.6% rise in the country's biggest lender Saudi National Bank (1180.SE), opens new tab.
Among other gainers, Jabal Omar Development Company (4250.SE), opens new tab, a real estate firm based out of Mecca, jumped 7.5%, rising for a third consecutive session.
The kingdom's Capital Market Authority (CMA) on Monday said foreign investors will be permitted to invest in Saudi-listed real estate companies operating in Mecca and Medina from Jan. 27.
Elsewhere, Saudi Telecom Company (7010.SE), opens new tab advanced 2.2%, after the firm said it won a contract worth 32.64 billion riyals ($8.70 billion) from a government entity to build, operate and provide telecommunications infrastructure services.
Dubai's main share index (.DFMGI), opens new tab fell 0.3%, hit by a 4% slide in Emaar Development (EMAARDEV.DU), opens new tab.
In Abu Dhabi, the index (.FTFADGI), opens new tab concluded flat.
Oil prices - a catalyst for the Gulf's financial markets - edged higher but remained near a two-week low, as weak economic data from China and rising temperatures elsewhere dampened demand prospects.
The Qatari benchmark (.QSI), opens new tab added 0.1%, helped by a 1.1% gain in petrochemical maker Industries Qatar (IQCD.QA), opens new tab and a 0.8% increase in Qatar International Islamic Bank (QIIB.QA), opens new tab ahead of its earnings.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab eased 0.3%, with Talaat Moustafa Holding (TMGH.CA), opens new tab declining 1.8%.
No comments:
Post a Comment