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A rally in U.S stocks on Wednesday boosted Asian shares to reach record highs on Thursday.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent.
In the Middle East, Saudi Arabia's index closed 0.1 percent higher on Wednesday helped by Saudi Basic Industries which gained 0.8 percent and Saudi Automotive Services which added 1.0 percent.
In Dubai the index performed well on Wednesday rising 0.5 percent as Union Properties, gained 0.9 percent and was the most traded stock and Emaar Malls added 2.2 percent.
Abu Dhabi's index gained 0.4 percent.
Egypt's index rose 0.7 percent.
In commodities, oil prices rose on Thursday. A reported decline in U.S. inventories and ongoing production cuts led by OPEC have supported prices.
Brent crude futures were at $69.56 at 0255 GMT, up 0.3 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $64.25 a barrel, up 0.4 percent, from their last close.
In currency markets, the dollar pulled back from three-year lows on Thursday. The dollar index against a basket of currencies was 0.4 percent higher.
Spot gold was down 0.25 percent at $1,326.50 an ounce on Thursday.
In other news, Egypt's Finance Minister Amr El Garhy said on Wednesday that Egypt will issue a dollar-denominated Eurobond in the first half of February.
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Our Standards: The Thomson Reuters Trust Principles
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2018
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent.
In the Middle East, Saudi Arabia's index closed 0.1 percent higher on Wednesday helped by Saudi Basic Industries which gained 0.8 percent and Saudi Automotive Services which added 1.0 percent.
In Dubai the index performed well on Wednesday rising 0.5 percent as Union Properties, gained 0.9 percent and was the most traded stock and Emaar Malls added 2.2 percent.
Abu Dhabi's index gained 0.4 percent.
Egypt's index rose 0.7 percent.
In commodities, oil prices rose on Thursday. A reported decline in U.S. inventories and ongoing production cuts led by OPEC have supported prices.
Brent crude futures were at $69.56 at 0255 GMT, up 0.3 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $64.25 a barrel, up 0.4 percent, from their last close.
In currency markets, the dollar pulled back from three-year lows on Thursday. The dollar index against a basket of currencies was 0.4 percent higher.
Spot gold was down 0.25 percent at $1,326.50 an ounce on Thursday.
In other news, Egypt's Finance Minister Amr El Garhy said on Wednesday that Egypt will issue a dollar-denominated Eurobond in the first half of February.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here
Our Standards: The Thomson Reuters Trust Principles
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2018
