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Gulf markets soft on weak Asian bourses

The Dubai stock index slid 0.8 percent

Published: Updated:

Gulf stock markets were soft in modest volumes during early trade on Wednesday due to a slide in Asian stock markets prompted by China's equities crash and to weak oil prices.

The Dubai stock index slid 0.8 percent. Construction firm Arabtec dropped 1.2 percent after saying its group chief financial officer, human resources officer and general counsel had resigned, the latest in a series of management upheavals at the company since June last year.

Gulf Finance House edged up 0.3 percent after saying it was considering the possibility of delisting from Kuwait and listing in Saudi Arabia, which would expose its shares to a much larger pool of investors.

Abu Dhabi's index edged down 0.04 percent as Aldar Properties dropped 2.6 percent but First Gulf Bank AD> rose 0.3 percent.

Qatar's market fell 0.1 percent as Mesaieed Petrochemical lost 0.2 percent.