Gulf Stock Markets Mixed Amid US-China Trade Concerns: Saudi Index Dips, Abu Dhabi Gains on Borouge Dividend News

Gulf stock markets presented a mixed performance on Wednesday, April 9, 2025, influenced by global economic factors and company-specific news. Escalating US-China trade tensions continued to weigh on investor sentiment, while positive corporate announcements drove gains in some markets. Saudi Arabia's benchmark index TASI fell 1.8% to 11,097. Declines in Al Rajhi Bank (1.8%) and ACWA Power Company (3.4%) contributed to the downward pressure. Saudi Aramco also saw a slight decrease of 0.2%. In contrast, Dubai's index edged up by 0.1% to 4,893, supported by a 2.3% increase in Dubai Islamic Bank. Abu Dhabi's index showed a stronger gain, rising 0.9% to 9,066, driven by a 3.9% surge in Borouge shares after the announcement of a dividend increase to 16.2 fils per share for 2025. The Qatari index also saw a marginal increase of 0.1%, closing at 9,904. Qatar National Bank (QNB) contributed to the positive momentum, gaining 0.8% after reporting a Q1 2025 net profit of 4.26 billion riyals ($1.17 billion). Outside the Gulf, Egypt's blue-chip index EGX30 decreased by 1.9% to 30,080. Other markets in the region also experienced declines, with Bahrain, Oman and Kuwait falling by 0.2%, 0.5% and 0.7% respectively.