Major Gulf markets gain on Fed rate cut optimism

Saudi Arabia's Tadawul All Share Index (TASI) gains 1.5%

Major Gulf stock markets rebounded on Thursday, tracking gains in global equities as investors cheered the U.S. Federal Reserve's decision to cut interest rates for the first time in more than a decade.

Dubai's DFM General Index rises 0.8%

Saudi Arabia's Tadawul All Share Index (TASI) rose 1.5% to 8,357 points, led by gains in banking and petrochemical shares. The index had fallen 1.7% on Wednesday after the Fed's rate cut decision.

Dubai's DFM General Index climbed 0.8% to 2,757 points, supported by gains in real estate and construction shares. The index had fallen 2.2% on Wednesday.

Qatar's QSE Index gains 0.6%

The Abu Dhabi Securities Exchange (ADX) General Index rose 0.3% to 4,847 points. The index had fallen 1.5% on Wednesday.

Qatar's QSE Index gained 0.6% to 10,257 points, led by gains in banking and industrial shares. The index had fallen 2.1% on Wednesday.

Kuwait's All Share Index rises 0.4%

The Fed's rate cut is seen as a positive for Gulf markets, as it could boost economic growth in the region. However, investors are still cautious about the impact of the ongoing trade war between the U.S. and China.

In other news, Kuwait's All Share Index rose 0.4% to 6,268 points. The index had fallen 1.9% on Wednesday.