UAE Stocks Rise on Potential US-China Trade Talks

UAE stock markets closed higher, buoyed by renewed optimism over potential US-China trade talks that could ease global economic tensions. Both Dubai and Abu Dhabi indices posted gains, with Dubai's main index up around 0.4% and Abu Dhabi extending its winning streak for a fifth consecutive session. Key contributors to the rise included strong performances from heavyweight real estate and industrial stocks like Emaar Properties and Salik Company, as well as a 42% surge in Dubai Financial Market’s quarterly net profit. Abu Dhabi’s Alpha Dhabi Holding and Adnoc Drilling also recorded notable increases. The weekly gains for Dubai and Abu Dhabi were 2.5% and 2% respectively, their highest since November 2023, even as Brent crude oil prices declined. The market upswing in the UAE reflects global investor optimism over a possible de-escalation of US-China trade tensions, boosting local equities despite some caution due to falling oil prices.