MIDEAST STOCKS Most Gulf markets follow Asia lower; Abu Dhabi hits record

September 9 (Reuters) – Most Gulf stock markets were subdued Thursday, in line with Asian stocks, although Abu Dhabi turned the tide to hit a record high.

Asian stocks were set to experience their worst day in two weeks, weighed down by the latest regulatory crackdown in China and concerns from global investors about an imminent cut in central bank stimulus measures.

“This week’s nervousness in the stock markets is a sign that investors are starting to reassess some of the known risks. Investors who rely on central banks, especially the Federal Reserve, may also need to think twice, account held the speech on the tap, “said Hussein Sayed, chief market strategist at Exinity Group.

Saudi Arabia’s benchmark index (.TASI) fell 0.3%, hit by a 0.8% drop from the Kingdom’s largest lender, Saudi National Bank (1180.SE) and a decline of 0.7% of Saudi Telecom Company (7010.SE).

However, shares of Prince Alwaleed bin Talal’s Kingdom Holding (4280.SE) rose around 3% after signing a deal with Bill Gates’ Cascade Investment to sell half of his stake in Four Seasons Hotels and Resorts for 2 , $ 21 billion. Read more

The Abu Dhabi benchmark (.ADI) rose 0.2% to a record high, with the UAE’s largest lender, First Abu Dhabi Bank (FAB.AD), rising 1.3 %, after announcing Wednesday that he had hired Martin Tricaud as head of the investment bank. Read more

Abu Dhabi locked in $ 3 billion on Wednesday with its second bond sale of the year, for which it received more than $ 9.75 billion in orders for two tranches, according to a bank document. Read more

Dubai’s main stock index (.DFMGI) fell 0.6% as most stocks in the index were in negative territory, including leading developer Emaar Properties (EMAR.DU).

The Qatari index (.QSI) stabilized, however, as gains in industrial stocks were offset by declines in bank stocks.

Reporting by Ateeq Shariff in Bangalore; Editing by Rashmi Aich

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