April 28 (Reuters) - Major stock markets in the Gulf rose in early trading on Monday as investors awaited corporate earnings announcements, although uncertainty over trade talks between the U.S. and China limited gains.
U.S. Treasury Secretary Scott Bessent on Sunday did not back President Donald Trump's assertion that tariff talks with China were underway and said he did not know if the U.S. president had talked to Chinese President Xi Jinping. Earlier, Beijing denied any talks were taking place.
Saudi Arabia's benchmark index added 0.1%, helped by a 0.3% rise in Al Rajhi Bank and a 0.9% increase in ACWA Power Company.
The Kingdom's non-oil exports reached an all-time high of 515 billion riyals ($137.29 billion) in 2024, the state news agency said on Saturday, as the kingdom continues its push to diversify its economy away from oil dependence.
Dubai's main share index gained 0.7%, led by a 1.2% gain in blue-chip developer Emaar Properties.
In Abu Dhabi, the index was up 0.5%, with Multiply Group jumping 5.2% as the investment firm is slated to report its first-quarter earnings.
Elsewhere, the United Arab Emirates' biggest lender First Abu Dhabi Bank advanced 1% ahead of earnings announcement.
The Qatari index was up 0.1%, with petrochemical maker Industries Qatar gaining 0.9%.
Oil prices - a catalyst for the Gulf's financial markets - inched higher though remained dogged by uncertainty over trade talks between the U.S. and China, clouding the outlook for global growth and fuel demand, while the prospect of OPEC+ raising supply cast more gloom.
($1 = 3.7512 riyals)
Reporting by Ateeq Shariff in Bengaluru; Editing by Rashmi Aich
Source: Reuters