Abu Dhabi Leads Major Gulf Stocks Higher Despite Prospect of Further Rate Hikes -- Market Talk

1402 GMT - Abu Dhabi leads major Gulf stocks higher, with its benchmark index rising 0.5%. The Dubai Financial Market General Index gains 0.3% and Qatar's QE Index adds 0.2%. The gains come despite a potentially more challenging interest-rate backdrop after the Federal Reserve raised its benchmark rate by 25 basis points to a 3.75%-4.00% range, the National Bank of Kuwait says. The Fed's projections signal another increase by year-end as inflation remains elevated, while most Gulf central banks followed the move with 25-basis-point increases under their dollar-pegged currency regimes, putting further upward pressure on regional borrowing costs. (farhan.rafid@wsj.com)

(END) Dow Jones Newswires

September 17, 2026 10:02 ET (14:02 GMT)