Major stock markets in the Gulf eased in early trade on Wednesday, as the killing of Hamas leader Ismail Haniyeh in Iran fuelled tensions in the region, reports Reuters.
Haniyeh was assassinated in the early hours of the morning in Iran, the Palestinian militant group said on Wednesday, drawing fears of wider escalation in a region shaken by Israel's war in Gaza and a worsening conflict in Lebanon.
The assassination, which came less than 24 hours after Israel claimed to have killed the Hezbollah commander it said was behind a deadly strike in the Israeli-occupied Golan Heights, appeared to set back chances of any imminent ceasefire agreement in Gaza.
Saudi Arabia's benchmark index fell 0.3 per cent, hit by a 4 per cent slide in aluminium products manufacturer Al Taiseer Group and a 0.6 per cent decrease in Al Rajhi Bank.
Dubai's main share index eased 0.1 per cent, with blue-chip developer Emaar Properties falling 1.2 per cent.
In Abu Dhabi, the index dropped 0.5 per cent, with conglomerate International Holding losing 0.2 per cent.
Oil futures rebounded from 7-week lows after the assassination, but prices stayed under pressure from concerns about weak Chinese demand.
The Qatari benchmark was down 0.2 per cent, weighed down by a 1.9 per cent decline in Qatar Navigation retreating 1.9 per cent.
On the other hand, telecoms firm Ooredoo added 0.8 per cent after reporting a rise in second-quarter profit, which limited the declines in the benchmark.
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