Page 71 - SALIK PR REPORT SEPTEMBER 2024

Most Gulf markets gain in line with

oil, Asian shares

By Reuters
September 24, 202412:31 PM GMT+4Updated a day ago

An empty room with an electronic board displaying data is seen at the Doha Stock Exchange in Doha, Qatar January 6,
2021. REUTERS/Ibraheem Al Omari/File photo Purchase Licensing Rights, opens new tab
Sept 24 (Reuters) - Most major stock markets in the Gulf rose in early trade on Tuesday in
line with oil prices and Asian shares buoyed by broad stimulus measures from China,
although geopolitical tensions in the region limited gains.

Oil prices - a catalyst for the Gulf's financial markets -rose on news of monetary stimulus
from top importer China and concerns that tensions in the Middle East could hit regional
supply, while a major hurricane loomed over the United States, the world's biggest crude
producer.

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China's central bank unveiled its biggest stimulus since the pandemic to pull the economy
out of its deflationary funk and back towards the government's growth target, but analysts
warned more fiscal help was vital to hit these goals.

Saudi Arabia's benchmark index (.TASI), opens new tab advanced 0.7%, with aluminium
products manufacturer Al Taiseer Group (4143.SE), opens new tab rising 0.9%.

https://www.reuters.com/markets/most-gulf-markets-gain-line-with-oil-asian-shares-2024-09-24/