DUBAI: Kuwaiti blue-chip shares were among the top decliners on Gulf Arab stock markets yesterday, falling as disappointment over the reach of a government economic rescue package weighed on investor sentiment. Abu Dhabi’s stock market took the biggest hit in the oil-exporting region, dropping more than 1 percent, while bourses in Qatar and Saudi Arabia also ended lower.
The Tadawul All-Share Index (TASI) in Saudi Arabia edged 0.04 percent lower to 4,894 points, tracking declines in global markets.
The Doha benchmark shed 0.26 percent, falling to 5,303 points. Benchmarks in Oman and Dubai bucked the downtrend as the UAE’s Air Arabia rose more than 3 percent after the low-cost carrier posted a 45-percent increase in fourth-quarter profit.
The main index in Oman ended up 1.11 percent at 4,917 points.
The Dubai index gained 0.69 percent to 1,488 points.
The benchmark Abu Dhabi index shed 1.25 percent to 2,208 points. Earlier this month, Kuwait’s Cabinet approved a stimulus package worth 1.5 billion dinars ($5.12 billion), including state guarantees of up to 50 percent for fresh loans banks provide to local firms. The main Kuwait index ended 0.45 percent lower at 6,576 points.
