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Gulf Region Shares Rise on Rate Cut Hopes

DUBAI — Gulf shares gained on speculation that interest-rate cuts from Japan to the US will be followed by local central banks, shoring up financial markets. Saudi Arabia’s Index declined.

Published: Fri 31 Oct 2008, 12:09 AM

Updated: Sun 5 Apr 2015, 2:27 PM

By
(Bloomberg)

The Abu Dhabi Securities Exchange General Index added 2.2 per cent to 3,350.41. The Dubai Financial Market General Index dropped 0.5 per cent. Qatar’s DSM 20 Index soared 5.1 per cent.

Oman’s Muscat Securities Market 30 Index climbed 2.4 percent. The Bahrain All Share Index rose 2.1 percent. Saudi Arabia’s Tadawul All Share Index fell 1.5 percent, while the Kuwait Stock Exchange Index retreated less than 0.1 percent. “The rate cut expectations are helping the Gulf markets,” Faisal Hasan, head of research at Global Investment House KSCC, said in a interview .

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