Major stock markets across the Gulf Cooperation Council region closed lower on Thursday as investors digested the resumption of hostilities between the United States and Iran.
The renewed military confrontation has reignited fears of supply chain disruptions, particularly regarding energy transit through the Strait of Hormuz, casting a shadow over regional equities.
Saudi Arabia's Tadawul All Share (TASI) index stood out as a bright spot in the region, reversing early losses to finish the session 0.4% higher.
This divergence suggests that domestic fundamentals and state-backed support may be partially insulating the kingdom's market from the broader geopolitical risk-off sentiment that weighed on neighboring bourses.
The market reaction follows a volatile week for regional assets.
Gulf markets retreated sharply on Monday after reports emerged that Iran had sealed key shipping routes, prompting a flight to safety among investors.