Dubai shares surged to a one year high, boosted by optimism from global financial markets, amid expectations that the European Central Bank will inject half a trillion euros into the euro-zone's financial system to stem the region's crisis.
Dubai Financial Market Company, the only bourse in the region to sell its shares to the public, surged 9.1 per cent to Dh1.09. The benchmark Dubai Financial Market General Index added 2.1 per cent to 1,733.98 points. The Abu Dhabi Securities Exchange General Index was up 0.5 per cent to 2,606.17 points.
Asian markets started the trading day on a positive note. Tokyo added 1.2 per cent, Hong Kong gained 0.5 per cent, and Seoul added 1.3 per cent.
Elsewhere in the region, Kuwait's measure lost 0.3 per cent to 6,097.20 points. Bahrain's measure added 0.7 per cent to 1,148.33 points. Oman's benchmark added 0.4 per cent to 5,837.84 points Qatar's QE Index added 0.4 per cent to 8,734.18 points. The Saudi Tadawul All-Share Index added 0.1 per cent to 7,180.77 points.
