DUBAI, May 19 (Reuters) - Gulf stock markets lost ground in early trade on Thursday after oil prices retreated and Asian stocks fell on speculation the United States would raise interest rates as early as June.

The Saudi index dropped 0.4 percent in a broad-based decline during the first hour> Losers outnumbered gainers 119 to 28.

Miner Ma'aden , which has been surging for several weeks on hopes it will benefit from an emphasis on developing the mining industry in Saudi Arabia's economic reform plan, dropped 2.4 percent.

The petrochemical sector also bore the brunt of profit-taking, with its index sliding 1.0 percent.

Dubai's index fell 1.0 percent as real estate shares, which could be hurt by higher global interest rates, sank. Emaar Properties slipped 1.4 percent.

Abu Dhabi dropped 1.1 percent and Qatar fell 0.7 percent, with telecommunications firm Ooredoo sinking 1.6 percent.

(Reporting by Andrew Torchia, editing by Larry King) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))

Keywords: MIDEAST STOCKS/