US-Iran Ceasefire Eases War Concerns, Dubai Stock Market Sees Largest Gain in a Decade

On April 8, after the United States and Iran reached a two-week ceasefire agreement, Dubai’s benchmark stock index recorded its largest gain in over a decade. The previous conflict had caused significant turbulence in the Gulf markets and posed a threat to the region’s energy infrastructure. The Dubai Financial Market General Index surged by as much as 10% during trading, marking the largest intraday increase since December 2014. Following weeks of market volatility due to the war, investors flocked to the real estate and banking sectors. The Abu Dhabi stock market also rose, with the ADX General Index reaching an intraday peak increase of 3.5%, the largest single-day rise since March 2024. This ceasefire halted US and Israeli military actions against Iran in exchange for the reopening of the Strait of Hormuz, which helps restore oil transportation. Brent crude oil futures plummeted by as much as 16%, while global stock markets generally rose. In the days prior, regional conflicts had escalated, and the UAE also faced attacks, raising market concerns over the safety of key energy facilities and shipping routes in the Persian Gulf. (Zhitong Finance)