Gulf stocks rebounded on Wednesday following U.S. President Donald Trump's announcement of a trade deal with Japan, fuelling hopes of further agreements ahead of a fast-approaching tariff deadline, while positive corporate earnings also bolstered market sentiment.

Trump said on Tuesday that the U.S. and Japan had struck a trade deal that includes a 15% tariff on U.S. imports from Japan. It followed an agreement with the Philippines by which the U.S. will collect a 19% tariff rate on imports from there.

While the increasing imposition of tariffs around the world poses risks to global economic growth and oil demand, the recent U.S.-Japan deal helped ease investor concerns and supported oil prices.

Saudi Arabia's benchmark index gained 0.5%, supported by energy stocks benefiting from stabilised oil prices. Oil behemoth Saudi Aramco advanced 0.7%.

Elsewhere, Arab National Bank rose more than 2% after posting strong second-quarter results.

The Abu Dhabi index jumped 0.9%, driven by robust earnings. First Abu Dhabi Bank, the UAE's largest lender, surged over 4% after beating second-quarter profit estimates on strong revenue growth, while Bank of Sharjah soared nearly 8%.

Among other gainers, Space42 advanced around 2% after securing a $695.5 million facility to fund next-generation UAE satellites.

Dubai's main share index added 0.3%, on course to snap a three-day losing streak, with nearly all sectors in positive territory as upbeat earnings lifted sentiment across the United Arab Emirates.

Index heavyweight Salik climbed 1.5%.

Qatar stock index edged up 0.2%, continuing to hover near a two-and-a-half-year high.

(Reporting by Amna Mariyam and Ateeq Shariff in Bengaluru, editing by Ed Osmond)