Most stock markets in the Gulf settled higher on Monday including Dubai's main share index DFM:DFMGI, which rose 0.7% to a record high for a second consecutive session.
The index had scaled a record on Friday, boosted by a slew of business agreements between the United Arab Emirates and the U.S.
President Donald Trump on his last stop of a Gulf tour said that the two countries had agreed on a path for the Gulf nation to buy advanced semiconductors used for artificial intelligence technologies from U.S. companies, a major win for Abu Dhabi's efforts to become a global AI hub.
Abu Dhabi's benchmark index ADX:FADGI closed up 0.12% on Monday.
On Dubai's main index, lender Emirates NBD Bank DFM:EMIRATESNBD, was the top gainer, closing up 3.5%.
Qatar's benchmark stock index QSE:GNRI also finished the day 0.7% higher, with Qatar Islamic Bank QSE:QIBK settling up 1.6%.
Meanwhile, oil prices fell on Monday, pressured by Moody's downgrade of the U.S. sovereign credit rating and disappointing data from China, where official figures revealed a slowdown in both industrial output and retail sales.
Saudi Arabia's benchmark stock index TADAWUL:TASI closed down 0.3%. Electrical components and equipment maker Middle East Specialized Cables Company TADAWUL:2370 was the top loser, down 5.8%.
Outside the Gulf, Egypt's blue-chip index EGX:EGX30 fell 1.13%.
SAUDI ARABIA
TADAWUL:TASI down 0.29% to 11,405.28
ABU DHABI
ADX:FADGI up 0.12% to 9,665.74
DUBAI
DFM:DFMGI up 0.66% to 5,491.25
QATAR
QSE:GNRI up 0.65% to 10,710.09
EGYPT
EGX:EGX30 down 1.13% to 31,355.82
BAHRAIN
BAHRAIN:BHBX inched up 0.04% to 1,921.84
OMAN
(.MSX30) up 0.37% 4,452.245
KUWAIT
(.BKP) down 0.31% at 8,707.92