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Gulf Markets Rise on US-Iran Diplomacy
Gulf stock markets collectively rose, supported by investor optimism following diplomatic progress between the United States and Iran, aimed at ending the war and reopening the Strait of Hormuz. The Saudi market index (TASI) increased by 0.3%, closing at 10,888 points — its highest level in more than a month — with trading valued at 5.1 billion riyals. The other Gulf markets, including Muscat, Kuwait, Qatar, Bahrain, Dubai, and Abu Dhabi, experienced gains ranging from 0.19% to 0.88%. Meanwhile, the Egyptian market showed mixed results, and the Jordanian market closed down by 0.45%. Overall, this optimism reflects support for regional stability and enhances the performance of the Gulf markets.
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