Most stock markets in the Gulf states were strengthening during Tuesday’s trading. The attraction for investors was mining titles. They expect demand for energy commodities to grow after China stepped in to further loosen anti-epidemic restrictions.
Signal for tourism
China, for example, has cut the quarantine on foreign tourists in half, a strong signal to tourism and especially to the aviation industry that the world’s most populous country will be in the coming The peak of the tourist season is an attractive destination in the field of tourism. This indicates, among other things, the growth in demand for aviation fuel and therefore for oil.
Growing interest in shares
Investors have appreciated this with growing interest in shares of mining companies particularly from the Gulf region, which also dragged the upside of the stock exchanges there. The Saudi Arabian stock exchange’s main index gained over two percent on Tuesday as shares of the world’s largest mining company, Saudi Aramco, firmed 3.4 percent.
More than percent credited the main stock index in Dubai as much as Qatar. Shares in Abu Dhabi then firmed by just under two per cent. Exchanges in Bahrain, Oman or Kuwait strengthened 0.2 to 0.3 percent.