Saudi shares rose after oil prices rebounded, bucking a downbeat regional trend as petrochemical stocks lead gains and pushed the index up 0.2 percent.

Brent crude prices bounced back above $112.00 a barrel late Wednesday as the euro briefly reversed losses after the Finnish parliament approved the 78 billion euro bailout from the European Union and the IMF.

Bellwether Saudi Basic Industries Corp climbed 0.2 percent and Saudi Kayan gained 0.8 percent.

Dubai’s index fell to a nine-week low, down 1.2 percent, tracking losses in global shares, with few regional catalysts to draw in buyers.

Bellwether Emaar Properties and builder Arabtec each shed 1.6 percent.

“Dubai has run up sharply in the past month or so. It rallied very hard and was due for a correction,” said Hameed.

Kuwait’s benchmark slipped 0.6 percent to its lowest close since April 17 in a third straight decline.

Heavyweight Zain fell 1.9 percent, slumping to a 15-month low, while logistics firm Agility dropped 1.3 percent.

Qatar’s index, down 0.5 percent, fell for a fourth day as investors continued booking profits.

Analysts said Qatar’s stocks were expensive and the current slide will provide more tempting valuations for investors.

Banks led Egypt’s main index 1.2 percent higher, as US, Saudi and World Bank pledges of financial support outweighed caution ahead of a planned protest in central Cairo’s Tahrir Square this Friday.

“We’ve been seeing a lot of international aid (pledges) coming in which is boosting investors’ morale,” said Mohamed Radwan, head of equities at Pharos Securities.

Heavyweight Commercial International Bank rose 3.2 percent after Credit Suisse upgraded the stock to “outperform” from “underperform,” citing the benefits of global aid inflows into Egypt.

“We have very positive news ... regarding economic support, however these funds are not expected to save the economic situation unless the security situation is settled,” said Nader Khedr, an investment and capital market analyst.

Traders said Tuesday’s decision to put former President Hosni Mubarak on trial may be enough to placate protesters who say Egypt’s interim rulers have dragged their heels in holding the former president to account.

World stocks fell while the euro declined on Wednesday on concerns about the euro zone’s spreading debt crisis.

“International markets are having a dragging affect on our markets, so it’s just feeding in,” said Shahid Hameed, Global Investment House head of asset management for the Gulf region.