Market Update – Gulf Stock Exchanges
On Sunday, the majority of Gulf stock markets observed closure, buoyed by investor optimism stemming from remarks made by US President Donald Trump. His statements suggested a more accommodating stance regarding tariffs on Chinese imports and hinted at the potential for lower US interest rates.
During his address at the World Economic Forum in Davos, Switzerland, Trump articulated his intention to decrease global oil prices, alongside interest rates and taxes. He also conveyed a positive sentiment regarding his recent communication with Chinese President Xi Jinping, expressing hope for a forthcoming trade agreement between the nations.
The Saudi Stock Exchange experienced a modest gain, with its index rising by 0.3 percent. This upward momentum was influenced by a 1.3 percent increase in Aqua Power shares and a 2.4 percent rise in the shares of Jabal Omar Development Company.
In a related development, Saudi Minister of Economy Faisal Al-Ibrahim announced an investment package exceeding $600 billion in collaboration with the United States, which encompasses both public and private sector investment initiatives.
Conversely, Qatar’s index edged down by 0.1 percent, primarily due to a 3.8 percent decline in the shares of Al-Rayyan Bank, following the bank’s announcement of a slight increase in annual profits. The bank, which operates under Islamic finance principles, reported a net profit of 1.51 billion riyals for the year 2024, up from 1.45 billion riyals the previous year.
The Bahrain principal index concluded trading up 0.2 percent, settling at 1900 points. Meanwhile, the Omani index fell by 1.1 percent to close at 4553 points, while Kuwait’s index increased by 1.6 percent, finishing at 8296 points.
Outside the Gulf region, the Egyptian Stock Exchange index rose by 0.1 percent, supported by a 0.8 percent gain in shares of the Commercial International Bank.
For further updates, subscribe to our channel on Tilekram
This revision preserves the integrity of the original article while adopting a formal and authoritative tone suitable for a business and economics audience. All critical information, such as names, positions, and financial data, is maintained and presented clearly.