The Saudi index was down a fractional 0.02 percent in early trade

By: Middle East Affairs

On Tuesday, Gulf stocks slipped in early trade as concerns about a further escalation in the trade war between the United States and China weighed on investors.

It should be noted that the Saudi index was down a fragmentary 0.02 percent in early exchange. Shares in Saudi Basic Industries Corp (SABIC) edged up 0.3 percent after it marked an update of comprehension (MOU) with China’s Fujian common government to assemble a petrochemical complex.

MedGulf hopped the 10 percent day by day confine in early exchange after the organization’s exceptional general gathering endorsed a multiplying of MedGulf’s money to 800 million riyals ($213 million) through a rights issue for 40 million new offers.

Banks put the brakes on additionally gains, with Arab National Bank slipping 1.2 percent, while Samba Financial Group edged down 0.7 percent and Bank AlBilad fell 0.8 percent.

In Dubai, advertise bellwethers Emirates NBD and Emaar Properties edged down 1.1 percent and 0.8 percent, separately. The more extensive list dropped 0.5 percent.

In Abu Dhabi, First Abu Dhabi Bank fell 0.5 percent, while Aldar Properties sank 1.6 percent.

Moreover, Qatar’s record rose 0.2 percent, proceeding with an ascent that has pushed the file up 16.3 percent in the year to date. Masraf Al Rayan climbed 1.2 percent, while Industries Qatar was up 0.6 percent.

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