Dubai (HRNW)- Most Gulf stock markets opened lower on Tuesday as rising military tensions between the United States and Iran increased investor concerns over regional stability and global energy supplies.
According to Reuters, investors came under selling pressure due to growing uncertainty surrounding the Strait of Hormuz and the potential impact on international oil shipments and energy markets.
The report said regional uncertainty intensified after Washington reimposed a naval blockade on Iran and fresh military operations between the two countries, developments that have significantly affected investor sentiment across Gulf financial markets.
Dubai’s main stock market index fell by more than one percent. However, shares of Emirates NBD, the UAE’s largest bank, rose by approximately 1.2 percent, helping to limit overall market losses.
The Abu Dhabi Securities Exchange index also traded about 0.3 percent lower, while Saudi Arabia’s benchmark stock index declined by around 0.2 percent.
In Saudi Arabia, shares of Al Rajhi Bank dropped by approximately 0.5 percent, adding pressure on the broader market. Meanwhile, Saudi Aramco shares gained around 0.8 percent, supported by higher global crude oil prices.
Economists said the continuing tensions between the United States and Iran, concerns over shipping through the Strait of Hormuz, and risks to global energy supplies are weakening investor confidence. They warned that any further escalation could affect not only Gulf financial markets but also the broader global economy.
Analysts said investors will closely monitor developments in the United States, Iran, and the Gulf region in the coming days, as these events are expected to shape the direction of regional and international financial markets.
Support independent journalism. Donate to HRNW: www.hrnww.com/?page_id=1083
