Most Gulf stock markets fall in early trade, Qatar rises

Most major stock markets in the Gulf fell in early trade on Wednesday after data showed that China slipped into deflation in July, a negative sign for the world economic growth outlook, reports Reuters.
Closely watched China data on Wednesday showed consumer prices fell 0.3 per cent in July from a year ago, the first decline since February 2021, although slightly better than the forecast of a 0.4 per cent drop. Producer prices fell for a tenth consecutive month.
Saudi Arabia's benchmark index fell 0.2 per cent, with Dr Sulaiman Al-Habib Medical Services losing 1.6 per cent, while Savola Group (2050.SE) retreated 8.2 per cent after reporting a sharp fall in second-quarter profit.
However, the losses on the index were capped by a 1.1 per cent rise in oil giant Saudi Aramco.
Aramco on Monday reported a net profit of 112.81 billion riyals ($30.07 billion) for the second quarter, beating a company-provided median estimate of $29.8 billion.
The group declared a base dividend of more than $19.51 billion, roughly in-line with its payout for the first quarter.
It will also start paying performance-linked dividends for six quarters, starting with a $9.87 billion payout in the third quarter, the company said.
Dubai's main share index (.DFMGI) lost 0.2 per cent, hit by a 0.6 per cent fall in blue-chip developer Emaar Properties.