Most stock markets in the Gulf ended higher on Sunday helped by renewed optimism around a potential resolution of the U.S.-China trade dispute, although the Saudi index retreated on poor earnings and weak oil.
Beijing is evaluating Washington's offer to hold talks over U.S. President Donald Trump's crushing tariffs, China's Commerce Ministry said, signaling a potential de-escalation of the market-rattling trade war.
The Qatari index (.QSI), opens new tab gained 0.5%, with Qatar Islamic Bank (QISB.QA), opens new tab rising 2.1% and Qatar Gas Transport Nakilat (QGTS.QA), opens new tab advancing 2.9%.
Separately, QatarEnergy - one of the world's biggest liquefied natural gas suppliers - is in talks with Japanese firms for a long-term deal to supply LNG from its North Field expansion project, five trading and industry sources told Reuters.
Saudi Arabia's benchmark index (.TASI), opens new tab, however, dropped 1.1%, weighed down by a 4.1% slide in Saudi Arabian Mining Company (1211.SE), opens new tab and oil giant Saudi Aramco (2222.SE), opens new tab retreating 1%.
Elsewhere, Saudi Basic Industries Corp (2010.SE), opens new tab declined 2.8% as the petrochemical maker posted quarterly losses.
Oil prices - a catalyst for the Gulf's financial markets - fell over 1% lower on Friday and recorded for their biggest weekly losses since the end of March.
OPEC+ plans to further accelerate oil output hikes and could unwind its 2.2 million barrels per day of voluntary cuts by the end of October if members do not improve compliance with their production quotas, Reuters reported, citing five sources from the group.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab closed 0.7% higher, led by a 1.6% increase in Talaat Moustafa Group Holding (TMGH.CA), opens new tab.
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