Dubai and Abu Dhabi Markets Rise Despite Regional Tensions
Dubai and Abu Dhabi stock markets moved higher on Monday, September 7, despite renewed tensions between the United States and Iran and growing concerns around the Strait of Hormuz.
The Dubai and Abu Dhabi Markets showed resilience as investors continued to monitor developments across the region. Dubai’s main share index rose 0.5%, while Abu Dhabi’s benchmark gained 0.1% in early trading.
In Dubai, Emaar Properties was among the notable gainers, with its shares increasing 0.7%. The company remains one of the major stocks influencing sentiment on the Dubai market.
The gains came despite a fresh escalation in maritime tensions. The United States carried out strikes on Iranian oil tankers, while Iran’s Revolutionary Guard Navy responded with actions targeting vessels in and around the Strait of Hormuz.
The developments have increased concerns about energy supplies and global oil prices. Oil prices have remained elevated as investors assess the potential impact of disruptions to shipping through the strategic waterway.
Brent crude was trading close to $97 a barrel on Monday, increasing concerns about inflation and global economic growth.
However, UAE markets have also received support from stronger domestic economic data. Last week, the UAE’s non-oil private sector recorded faster growth in August, with the S&P Global UAE Purchasing Managers’ Index rising to 55.3 from 52.7 in July.
Dubai’s index gained 0.7% on September 4, while Abu Dhabi’s benchmark rose 0.5%. The latest market performance suggests that investors remain cautious but are still showing confidence in the UAE’s economic fundamentals despite heightened geopolitical risks.
