Regional markets recovered ground after early sell-offs, as rebounding oil prices pacified European bourses.
Japan's Nikkei closed down 5.4 per cent yesterday, after concerns about falling oil prices and faltering Chinese growth weighed on US and European shares on Monday.
However, a recovery in oil prices to more than $33 per barrel, and easing fears over global credit risks, resulted in European bourses opening higher yesterday.
Shares in the UAE were the worst performers across the region yesterday, while Saudi Arabia closed in the red.
The Dubai Financial Market General Index fell by as much as 2.4 per cent in early trading, before paring losses to finish 0.9 per cent lower at 3,064.71.
Emirates NBD was among the main decliners, falling 4.5 per cent to Dh7.40, while Dubai Islamic Bank closed off 1.5 per cent at Dh5.89.
Banking and financial stocks were among the poorest performers in Abu Dhabi, which fell about 1 per cent in midmorning trade.
ADCB lost 3.3 per cent at Dh6.30, while Waha Capital finished 2.4 per cent lower.
Agthia shed 2.7 per cent at Dh7.05, as the food producer's fourth-quarter profit was below analysts' projected expectations.
jeverington@thenational.ae
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