In light of the tension between Washington and Beijing, most of the Gulf stock exchanges declined

In light of the tension between Washington and Beijing, most of the Gulf stock exchanges declined Most of the stock markets in the Gulf fell with the close of trading on Tuesday, amid escalating tension between China and the United States, following a visit by US House Speaker Nancy Pelosi to Taiwan.  Most of the Gulf stock markets ended lower today, Tuesday, as investors moved to secure recent gains, taking into account the tension between the United States and China, and the Qatari index rebounded from a 12-day winning streak.  The MSCI World Index, which measures the performance of stock markets in 47 countries, fell 0.5% amid concerns that US House Speaker Nancy Pelosi's visit to Taiwan could harm relations between China and the United States.  The Saudi Stock Exchange index fell 0.2% to 12,311 points, affected by a 0.9% drop in Banque Saudi Fransi and a 1.3% decline in Yamama Cement Company.  Farah Murad, senior market analyst at XTP for the Middle East and North Africa, said investors in the Gulf moved to profit-taking while at the same time worried about the US-China tension over Taiwan, which could affect economic conditions further.  The Dubai Stock Exchange index fell 0.9% to 3,348 points, with Emirates NBD Bank, the largest bank in the Emirates, down 1.1%, and Dubai Islamic Bank falling 0.8%.  Meanwhile, the United States on Monday imposed sanctions on Chinese and other companies it said had helped sell tens of millions of dollars in Iranian oil and petrochemical products to East Asia as it sought to increase pressure on Tehran to curb its nuclear programme.  And the US Treasury and State Departments imposed sanctions on six companies, four of them in Hong Kong, one in Singapore, and one in the UAE, as part of measures announced in separate statements.  In Qatar, the stock market index fell 1.2% to 13,302 points, ending 12 consecutive sessions of gains, affected by a 2.6% decline in Qatar Islamic Bank's share.  The main index of shares in Abu Dhabi rose 1.2% to 9895 points, close to its highest level in a month, supported by a 1.3% increase in the shares of First Abu Dhabi Bank.  Outside the Gulf region, the Egyptian Stock Exchange index rose 0.2% to 9442, supported by a 4.5% jump in the shares of the Misr Fertilizer Production Company (MOPCO).

Most of the stock markets in the Gulf fell with the close of trading on Tuesday, amid escalating tension between China and the United States, following a visit by US House Speaker Nancy Pelosi to Taiwan.

Most of the Gulf stock markets ended lower today, Tuesday, as investors moved to secure recent gains, taking into account the tension between the United States and China, and the Qatari index rebounded from a 12-day winning streak. 

The MSCI World Index, which measures the performance of stock markets in 47 countries, fell 0.5% amid concerns that US House Speaker Nancy Pelosi's visit to Taiwan could harm relations between China and the United States.

The Saudi Stock Exchange index fell 0.2% to 12,311 points, affected by a 0.9% drop in Banque Saudi Fransi and a 1.3% decline in Yamama Cement Company.

Farah Murad, senior market analyst at XTP for the Middle East and North Africa, said investors in the Gulf moved to profit-taking while at the same time worried about the US-China tension over Taiwan, which could affect economic conditions further.

The Dubai Stock Exchange index fell 0.9% to 3,348 points, with Emirates NBD Bank, the largest bank in the Emirates, down 1.1%, and Dubai Islamic Bank falling 0.8%.

Meanwhile, the United States on Monday imposed sanctions on Chinese and other companies it said had helped sell tens of millions of dollars in Iranian oil and petrochemical products to East Asia as it sought to increase pressure on Tehran to curb its nuclear programme.

And the US Treasury and State Departments imposed sanctions on six companies, four of them in Hong Kong, one in Singapore, and one in the UAE, as part of measures announced in separate statements.

In Qatar, the stock market index fell 1.2% to 13,302 points, ending 12 consecutive sessions of gains, affected by a 2.6% decline in Qatar Islamic Bank's share.

The main index of shares in Abu Dhabi rose 1.2% to 9895 points, close to its highest level in a month, supported by a 1.3% increase in the shares of First Abu Dhabi Bank.

Outside the Gulf region, the Egyptian Stock Exchange index rose 0.2% to 9442, supported by a 4.5% jump in the shares of the Misr Fertilizer Production Company (MOPCO).
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