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Three financial markets, Dubai, Abu Dhabi, and Morocco, escaped the declines in Arab stock markets, as investors await a possible cut in US interest rates this week..
Monetary policy in the GCC countries often aligns with the decisions of the Federal Reserve, as most regional currencies are pegged to the dollar..
Dubai’s main stock index rose 0.3 percent, helped by a 7.5 percent jump in Dubai Taxi, extending gains from the previous session..
In Abu Dhabi, the index closed up 0.4 percent..
The Saudi benchmark index fell 0.3 percent, hurt by a 1.7 percent drop in Alinma Bank and a 0.2 percent decline in Al Rajhi Bank..
But shares of oil giant Saudi Aramco rose 0.2 percent..
The Qatari index fell 0.1 percent and Qatar Islamic Bank shares fell 0.3 percent..
Muscat index also fell by 0.31% and Bahrain by 0.39%.%.
Outside the Gulf, Egypt’s blue-chip index fell 0.8 percent, hurt by a 0.8 percent decline in Commercial International Bank..
While the Moroccan Stock Exchange index rose by 0.8%.%.
