Most major Gulf markets gain on China stimulus-led optimism

Most major stock markets in the Gulf climbed in early trade on Thursday, in line with Asian shares, supported by news of aggressive economic stimulus from China, although geopolitical tensions in the region limited the upside, reports Reuters.
China's central bank on Tuesday unveiled its biggest stimulus since the pandemic to pull the economy out of its deflationary funk and back towards the government's growth target.
Driving the optimism was an official readout from a meeting of China's politburo that said the country would deploy "necessary fiscal spending" to meet this year's economic growth target of roughly 5 per cent.
Saudi Arabia's benchmark index gained 0.3 per cent, with ACWA Power Company advancing 6.7 per cent.