Gulf may recover modestly with global trend

Technically, Dubai's index remains in a downtrend dating back to early February

  
An investor uses his mobile phone at the Dubai Financial Market.

An investor uses his mobile phone at the Dubai Financial Market.

REUTERS/Ahmed Jadallah
DUBAI, March 28 (Reuters) - Stock markets in the Gulf may rebound modestly on Tuesday after global bourses recovered following a slide due to U.S. President Donald Trump's failure to pass healthcare reform.

MSCI's broadest index of Asia-Pacific shares outside Japan is up 0.6 percent; oil prices fell overnight but remain within their recent ranges.

Technically, Dubai's index , last at 3,454 points, remains in a downtrend dating back to early February. But within that trend, it has room to recover to immediate resistance at 3,523 points, the mid-March peak.

Stocks going dividend on Tuesday are Riyad Bank and Saudi Public Transport , National General Insurance in Dubai, and Kuwait Insurance Co.

(Reporting by Andrew Torchia) ((andrew.torchia@thomsonreuters.com)(+9715 6681 7277)(Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))