Major stock markets in the Gulf edged higher in early trade on Tuesday ahead of US labour and manufacturing data due later in the week, while volatile energy prices limited gains.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%, as did Japan's Nikkei.
Saudi Arabia's benchmark index added 0.1%, helped by a 2.8% jump in Jabal Omar Development Co after the company obtained a licence from the Ministry of Tourism to operate the first tower of Jabal Omar Jumeirah Hotels.
On the other hand, oil giant Saudi Aramco dropped 0.7%.
Oil prices - a key catalyst for the Gulf's financial markets - slipped as worries that further possible US interest rate hikes could pull down demand outweighed concerns that a tropical storm off the US Gulf Coast may impact supply.
Dubai's main share index gained 0.1%, with toll operator Salik Co putting on 0.9%.
In Abu Dhabi, the index added 0.2%. Separately, insurer Centene said on Monday it would sell British hospital operator Circle Health Group to United Arab Emirates-based PureHealth for about $1.2 billion including debt, as the US health insurer refocuses on its core business.
PureHealth is majority-owned by Abu Dhabi investment fund ADQ, with International Holding Company (IHC) also holding a stake.
Shares of IHC were flat.
The Qatari benchmark was up 0.1%, with Qatar Islamic Bank gaining 0.5%.
Comments
Comments are closed for this article.