Most Gulf stock markets ended lower on Wednesday, as investors monitored a fragile ​Middle East ceasefire and ⁠the upcoming high-stakes meeting in China between U.S. President Donald Trump and ‌Chinese President Xi Jinping.

U.S. Treasury Secretary Scott Bessent has said that the two presidents will discuss the ​Iran war, and urged China to "join us in this international operation" to open the Strait of ​Hormuz to international ​shipping.

But while Beijing worked behind the scenes to convince Iran to hold peace talks with the U.S. in Pakistan last month, analysts say it would not ⁠act solely at Washington’s behest.

Saudi Arabia's benchmark index fell 0.2%, hit by a 2.1% slide in Saudi Arabian Mining Company. 

GCC stock markets were mixed today, with investor sentiment still cautious as markets watched for regional geopolitical developments. With the Strait of Hormuz ​still closed, focus ‌may
shift to the ⁠U.S.-China meeting and ⁠its potential impact on the region, said Daniel Takieddine Co-founder and CEO, Sky Links Capital Group.

Dubai's ​main share index declined 0.4%, with blue-chip developer Emaar Properties losing ‌0.9%.

In Abu Dhabi, the index added 0.1%, with ⁠ADNOC Drilling gaining 0.8% after its CFO told Reuters on Tuesday that the company is prepared to help expand the UAE's oil production capacity beyond its current target of 5 million barrels per day by 2027, if approved.

A unit of state-owned Abu Dhabi National Oil Company said Wednesday that one of its tankers, hit by Iranian drones last week, leaked a small amount of fuel off Oman's coast,
highlighting the environmental risks of the Iran war.

The Qatari index closed 0.5% lower, with the ‌Gulf's biggest lender Qatar National Bank retreating 1.1%.

Brent crude futures were ⁠down 30 cents, or 0.3%, to $107.47 a barrel at ​1220 GMT. U.S.

Outside the Gulf, Egypt's blue-chip index retreated 1.2%, as most of its constituents were in negative territory.

  •  Saudi Arabia eased 0.1% to 11,020
  •  Abu Dhabi added 0.1% to 9,705
  •  Dubai dropped 0.4% to ​5,759
  •  Qatar fell 0.5% ‌to 10,473
  •  Egypt down 1.2% to 53,416
  •  Bahrain was up 0.3% to 1,940
  •  Oman declined 1.3% ⁠to 8,179
  •  Kuwait rose 0.1% to 9,283 

(Reporting ​by Ateeq Shariff in Bengaluru; Editing by Harikrishnan Nair and Ronojoy Mazumdar)