Stock markets in the Gulf ended mixed on Thursday as uncertainties around U.S. tariff policies and fears of an economic slowdown remained top concerns for investors.
Traders are waiting for signs of progress on negotiations between U.S. President Donald Trump's administration and its trading partners, including the ongoing trade talks with Japan. The direction of any potential discussions with China remains the biggest overhang.
Saudi Arabia's benchmark index (.TASI), opens new tab declined 0.7%, hit by a 0.5% fall in Al Rajhi Bank (1120.SE), opens new tab and a 2.1% decline in Saudi Arabian Mining Company (1211.SE), opens new tab.
The market could remain vulnerable to developments related to external factors, especially trade tensions, said George Pavel General Manager at Naga.com Middle East.
"However, the upcoming first-quarter earnings releases could potentially act as a catalyst, influencing market direction and possibly providing support."
Dubai's main share index (.DFMGI), opens new tab reversed early losses to finish 0.2% higher, helped by a 6.8% jump in Parkin Company (PARKIN.DU), opens new tab.
Investors were also digesting comments from Federal Reserve Chair Jerome Powell, who warned of the risk of slowing growth and rising prices due to tariffs.
In Abu Dhabi, the index (.FTFADGI), opens new tab concluded flat.
According to Pavel, despite oil prices stabilizing somewhat after their recent decline, they remained at lower levels and provided only limited support to the market.
Oil prices rose to the highest in two weeks amid low liquidity ahead of the Easter holidays after the United States imposed new sanctions to curb Iranian oil exports, elevating supply concerns.
The Qatari index (.QSI), opens new tab dropped 0.6%, with Qatar Islamic Bank (QISB.QA), opens new tab losing 2.8%.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab edged 0.1% higher, with Commercial International Bank (COMI.CA), opens new tab rising 0.9%.
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