By Andrew Torchia

DUBAI, Feb 2 (Reuters) - Most Gulf stock markets were weak on Thursday but Egypt's bourse rebounded after sliding for three days partly on concern that U.S. President Donald Trump's policies could hurt the economy.

The Saudi index .TASI edged down 0.03 percent as loss-making Nama Chemicals 2210.SE , which had soared 37 percent in the four days through Tuesday after it announced the outline of a recovery plan, pulled back 6.3 percent.

Atheeb Telecom 7040.SE surged to its 10 percent daily limit, however, after jumping 9.4 percent on Wednesday in response to the sale of some of its tower network for 230 million riyals ($61.3 million) to Saudi Telecom Co 7010.SE .

Dubai's index .DFMGI slipped 0.8 percent as blue chip Emaar Properties EMAR.DU fell 2.4 percent. Gaining stocks outnumbered losers by 18 to 16, though, with builder Drake & Scull DSI.DU , the most active stock, rising 4.2 percent.

Abu Dhabi .ADI dropped 1.8 percent as telecommunications blue chip Etisalat ETEL.AD fell 2.2 percent; earlier this week the holding company for rival du DU.DU said it was launching Virgin Mobile-brand services in the United Arab Emirates.

Sharjah Islamic Bank SIB.AD sank 4.4 percent after releasing preliminary results for last year which showed a 12.9 percent rise in net profit.

Rakbank RAKB.AD closed flat despite reporting that its 2016 net profit shrank 53 percent because of a big rise in impairments for doubtful loans, which eclipsed a slight rise in operating profit.

In Qatar .QSI , the index edged down 0.2 percent. Banks climbed, with Qatar National Bank QNBK.QA adding 1.1 percent, but Qatar Electricity and Water QEWC.QA fell 1.8 percent after reporting a 13.8 percent drop in fourth-quarter net profit to 310 million riyals ($85.2 million); EFG Hermes had forecast 386.1 million riyals and QNB Financial Services, 388.2 million riyals. The board kept the 2016 dividend flat from 2015.

Egypt's index .EGX30 surged 1.8 percent after falling 4.4 percent in the three previous days, partly in response to Trump's travel curbs. Although these did not target Egypt, some investors fear an aggressive and protectionist Trump administration could ultimately cut flows of U.S. trade, investment and aid into Egypt.

Investment bank EFG Hermes HRHO.CA rebounded 2.5 percent.



THURSDAY'S HIGHLIGHTS



SAUDI ARABIA



* The index .TASI edged down 0.03 percent to 7,099 points.



DUBAI



* The index .DFMGI fell 0.8 percent to 3,624 points.



ABU DHABI



* The index .ADI dropped 1.8 percent to 4,446 points.



QATAR



* The index .QSI lost 0.2 percent to 10,570 points.



EGYPT



* The index .EGX30 gained 1.8 percent to 12,806 points.



KUWAIT



* The index .KSWE edged down 0.1 percent to 6,844 points.



OMAN



* The index .MSI rose 0.2 percent to 5,803 points.



BAHRAIN



* The index .BAX gained 0.9 percent to 1,308 points. (Editing by Gareth Jones) ((andrew.torchia@thomsonreuters.com)(+9715 6681 7277)(Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))