Most major stock markets in the Gulf rose in early trade on Monday tracking Asian shares, buoyed by a temporary easing of trade tensions after the U.S. exempted smartphones and computers from reciprocal tariffs.

U.S. President Donald Trump's administration granted exclusions from steep tariffs on smartphones, computers and some other electronics imported largely from China.

Dubai's main share index gained 0.6%, with blue-chip developer Emaar Properties rising 1.2% and top lender Emirates NBD up 1.6%.

In Abu Dhabi, the index added 0.4%.

Qatar's benchmark index increased 0.4%, helped by a 0.6% gain in the Gulf's biggest lender Qatar National Bank .

On the other hand, Saudi Arabia's benchmark index dipped 0.1% in choppy trade, with Al Rajhi Bank losing 0.6% and oil giant Saudi Aramco was down 0.2%.

Oil prices - a catalyst for the Gulf's financial markets - edged up after Chinese data showed a sharp rebound in crude imports in March, although concerns that the escalating trade war between the U.S. and China would weaken global economic growth and dent fuel demand weighed. (Reporting by Ateeq Shariff in Bengaluru; Editing by Varun H K)


Reuters