Stock markets in the Gulf were little changed on Sunday as uncertainty surrounding U.S.-China tariff negotiations kept investors cautious, with many awaiting further corporate earnings reports.
U.S. President Donald Trump asserted in an interview published Friday that tariff negotiations were underway with China, but Beijing denied any talks were taking place, the latest in a series of conflicting signals over what progress was being made to de-escalate the trade war threatening to sap global growth.
Saudi Arabia’s benchmark index eased 0.1%, with the country’s biggest lender Saudi National Bank losing 1.4%.
Elsewhere, Saudi Tadawul Group – the owner of the Saudi Exchange – retreated 1.6% following a steep decline in first-quarter profit. In Qatar, the index edged 0.1% higher, helped by a 1.8% rise in petrochemical maker Industries Qatar.
Outside the Gulf, Egypt’s blue-chip index – which traded after a session’s break – gained 0.7%, led by a 0.5% rise in Commercial International Bank.
SAUDI ARABIA fell 0.1% to 11,756
QATAR added 0.1% to 10,269
EGYPT up 0.7% to 31,855
BAHRAIN was flat at 1,901
OMAN rose 0.1% to 4,279
KUWAIT was up 0.1% to 8,487
(Reporting by Ateeq Shariff in Bengaluru; editing by David Evans)
