Gulf bourses rebound from selloff

Most stock markets in the Gulf rose on Tuesday, rebounding from a recent selloff, with the Qatari index on track to snap four sessions of losses, reports Reuters.
The markets also followed Asian shares higher. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.3 per cent, edging up from a more than five-week low and set for its best day in around two weeks.
Saudi Arabia's benchmark index gained 1.9 per cent, led by a 2.4 per cent increase in Al Rajhi Bank and a 2.7 per cent leap in the country's biggest lender, Saudi National Bank.
The kingdom's April crude exports rose to a two-year peak of 7.382 million barrels per day (bpd) in April, data from the Joint Organizations Data Initiative showed on Monday.
Dubai's main share index advanced 1.6 per cent, with sharia-compliant lender Dubai Islamic Bank rising 2.7 per cent and Emirates NBD Bank gaining 1.9 per cent.