Most major Gulf markets closed higher on Tuesday, boosted by financial stocks and mirroring a rally in global markets amid hopes for a U.S.-China trade agreement.

China is pushing U.S. President Donald Trump to remove more tariffs imposed in September as part of a so-called Phase 1 trade deal, which would help to ease the broad economic damage inflicted by the trade dispute. 

Saudi Arabia's index added 1.7%, with National Commercial Bank , the kingdom’s largest lender, jumping 4.4% and Al Rajhi Bank up 1.9%.

The latter said it had received central bank approval for the appointment of Walid Bin Abdullah Al-Moqbel as its chief executive. 

Abdullah Al Othaim Markets 4001.SE soared 9.4%, its biggest intraday gain since July 2012, after posting a 38.8% rise in third-quarter profit.

Elsewhere Company For Cooperative Insurance (Tawuniya) gained 3.8% as it swung into profitability in the third quarter.

Among other stocks, City Cement climbed 4.1% after its board proposed to reduce its capital, saying it had more than it required.

On Sunday, the cement maker reported third-quarter net profit of 50.5 million riyals ($13.47 million), compared with a loss of 2.4 million riyals a year earlier.

Egypt's blue-chip index  ended up 1.1% as Commercial International Bank leapt 3.8%, its biggest intraday rise since August 2018. The country's largest lender reported a 23% increase in third-quarter profit. 

The lender also said that its board had approved in principle the acquisition of a stake in a Kenyan bank. 

Cleopatra Hospital rose 1.3% after it said it had completed the acquisition of El Katib Hospital and will be taking over its day-to-day operations from Nov. 6.

In Qatar, the index gained 1.1%, extending gains for a third straight session, with the Gulf's largest lender Qatar National Bank climbing 2.4% and Industries Qatar adding 1.8%.

In Abu Dhabi, the index closed 0.9% higher. Market heavyweight First Abu Dhabi Bank rose 1.2% and Emirates Telecommunications Group added 1.1%.

Dubai's main share index slipped 0.7%, with blue-chip developer Emaar Properties falling 1.9% and Emirates NBD shedding 0.9%.

However, Emaar Malls gained a further 1.3% after the shopping mall operator reported on Sunday a 12.1% rise in third-quarter profit.

($1 = 3.7501 riyals)

(Reporting by Shamsuddin Mohd in Bengaluru; Editing by Jan Harvey) ((shamsuddin.mohd@thomsonreuters.com; +918067497252;))