Most Gulf markets subdued on oil, geopolitical tensions

Major stock markets in the Gulf were subdued on Wednesday amid falling oil prices and rising geopolitical tensions in the region, reports Reuters.
Oil prices - a catalyst for the Gulf's financial markets - fell as investors reassessed the ability of China's stimulus plans to boost the economy enough to drive more fuel demand growth in the world's largest crude importer.
Still, declining US crude oil and fuel stockpiles provided some support for the market, which has generally risen since prices hit their lowest since 2021 on Sept. 10.
Saudi Arabia's benchmark index lost 0.2 per cent, hit by a 1.1 per cent fall in Saudi Awwal Bank and 0.8 per cent decrease in Alinma Bank.
In Qatar, the index was down 0.1 per cent, with Qatar Islamic Bank losing 0.4 per cent, and telecoms firm Ooredoo declining 1 per cent.
An Israeli airstrike on Beirut killed a senior Hezbollah commander on Tuesday as cross-border rocket attacks by both sides increased fears of a full-fledged war in the Middle East.
Hezbollah on Wednesday confirmed that senior commander Ibrahim Qubaisi was killed by Israeli airstrikes on the Lebanese capital. Israel said Qubaisi headed the group's missile and rocket force.
The Abu Dhabi index fell 0.2 per cent. Dubai's main share index, however, gained 0.3 per cent, with Parkin Company advancing 2.8 per cent and toll operator Salik was up 0.7 per cent.