Gulf Stocks Decline Amid Trading Halt in Kuwait Following Iran's Escalation Against GCC Nations

Middle East Stock Markets React to Geopolitical Tensions

Market Overview On Sunday, heightened geopolitical tensions across the Gulf led to a decline in most stocks, with Boursa Kuwait suspending trading activities due to exceptional circumstances. The strong market reaction followed coordinated US and Israeli strikes on Iran, which triggered retaliatory attacks on US targets in Gulf cities and raised fears of prolonged instability across the region.

Regional Market Performances

• Saudi Arabia: The benchmark index pared its losses to trade 2% lower after tumbling as much as 4.6% earlier in the session. Notable decliners included Al Rajhi Bank (-2.8%), Saudi National Bank (-4.3%), and flynas (-5.8%). In contrast, Saudi Aramco rose 2.6% on expectations of rising oil prices.
• Oman: The Muscat stock index trimmed its losses to 1.8% after sliding more than 3% earlier in a broad-based selloff. OQ Base Industries declined 1.3%.
• Bahrain: The benchmark index was down 0.9%.
• Qatar: Trading was closed for a bank holiday.
• Egypt: The blue-chip index slumped 5.5% in early trade, with all constituents in negative territory.

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Global Aviation Disruptions The escalating tensions in West Asia have intensified concerns that the US-Israel military action against Iran could spiral into a broader regional conflict. Key locations across the UAE targeted by Iranian missile strikes and drones on Saturday included Jebel Ali Port, Burj Al Arab, Dubai's famed Palm Jumeirah hotel, and Dubai International Airport.