Dubai's stock market recouped some losses early on Wednesday as most of its real estate stocks gained, while other major Middle Eastern markets were little changed.

In Dubai, the index added 0.6 percent with Emaar Properties rising 2.2 percent after saying it had started business development operations in China.

Outside the real estate sector, Takaful Emarat rose 3.6 percent after Goldilocks Investment, part of Abu Dhabi Financial Group, bought a 29.5 percent stake in the firm. Gulf Navigation climbed 2.9 percent after Goldilocks said earlier this week it had acquired a 18.32 percent stake.

Saudi Arabia's index was flat with top petrochemical maker Saudi Basic Industries gaining 0.3 percent and Saudi Kayan Petrochemical adding 1.0 percent.

Oil prices climbed by around 1 percent on Wednesday amid a global stock market rebound and on expectations that an OPEC-led output cut for 2019 would stabilise the supply-demand balance.

Saudi Steel Pipes added 4.3 percent and Arabian Pipes was up 1.9 percent after both companies said they had won contracts to supply pipes to Saudi Aramco.

The Abu Dhabi index edged down 0.2 percent with Abu Dhabi National Energy Company shedding 6.1 percent and Dana Gas falling 1.6 percent.

Qatar's index also edged down 0.2 percent, with Masraf Al Raya falling 0.9 percent and Industries Qatar decreasing 0.6 percent. But drilling rig provider Gulf International Services climbed 1.1 percent after saying a subsidiary had won tender to provide health care services to staff of Qatar Petrroleum and QatarGas.

(Reporting by Shakeel Ahmad and Ateeq Shariff in Bengaluru; Editing by Andrew Torchia)

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