MENA shares finished Wednesday’s session mostly higher, as investors fears about an escalating global trade war eased, with China stepping in to stabilize the yuan and the United States dismissing concerns of a lengthy trade war with China.
Bahraini shares were little changed in today’s session, where the main index BAX fell slightly by 0.6 percent to settle at 1,544.21. The Industrials sector was the best performing sector, while the Banking sector was the worst-performing sector.
In Qatar, Qatari equities ended today’s trading session in the green as the primary benchmark QSI rose by 1.23 percent to finish the session at 9898.10 boosted by Gains in the Energy, Telecommunications Services, and Healthcare sectors.
Regarding oil news, Oil prices dropped more than 4 percent to a seven-month low, extending recent substantial losses following a surprise build in U.S. crude stockpiles and worries that demand will shrink due to the escalating trade war between the United States and China.
Saudi Stocks Exchange:
Saudi Arabia's stock market surged on Wednesday as the primary index TASI rose by 1.06 percent to finish at 8482.95 helped by the improvement in multiple sectors, especially the Utilities, Consumer Non-Cyclicals, and Basic Materials sectors.
In stocks news, Saudi Cable Company JSC was the best performer in the session after it’s share rose by 8.73 percent. On the other hand, Saudi Cement Company SJSC was the worst performer of the session after its share slipped by 7.19 percent.
United Arab Emirates Stock Market:
United Arab Emirates' shares rose on Wednesday session.
Abu Dhabi equities advanced on today's trading session, where Abu Dhabi's leading benchmark ADI rose by 0.74 percent to settle at 5118.761 supported by gains in Basic Materials, Telecommunications Services, and Consumer Non-Cyclicals sectors.
In stock news, International Holding Company PJSC was the best performer in the session, after its share rose by 6.38 percent, while United Arab Bank PJSC was the worst performer after its share tumbled by 9.74 percent.
In Dubai, the main index DFM surged by 1.23 percent to settle at 2831.28 boosted by the gains in the Consumer Cyclicals, Telecommunications Services, and Financials sectors.
In stocks news, DXB Entertainments PJSC was the best performer as the share rose by 3.72 percent, while Dubai National Insurance and Reinsurance Co PSC was the worst performer as the stock fell by 3.53 percent.
Egypt Stock Market:
Egypt's leading benchmark EGX30 rose by 1.65 percent on Wednesday to settle at 13880.57, supported by gains in Basic Materials, Consumer Non-Cyclicals, and Industrials sectors.
In stock news, Egyptian Resorts Co SAE surged by 8.59 percent, followed by Orascom Investment Holding SAE share that rose by 7.1 percent.
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