By Ateeq Shariff
Feb 2 (Reuters) - Saudi Arabia's stock market ended lower on Sunday after U.S. President Donald Trump announced tariffs on Canada, Mexico and China, while the Qatari index gained ahead of several corporate earnings statements.
The U.S. tariffs may impact the Gulf region's economies, given their significant trade ties. Gulf oil exports could also be affected by a potential slowdown in global economic growth, while Gulf investors may see their overseas investments impacted.
White House spokeswoman Karoline Leavitt said the tariffs will be set at 25% for Canada and Mexico, and 10% for China, though it was unclear if there will be exemptions.
Reuters earlier quoted sources saying that Trump would delay collection of the duties until March 1 and offer a limited process for certain imports to be exempted.
Saudi Arabia's benchmark index .TASI eased 0.1%, led lower by a 1% fall in ACWA Power Company 2082.SE and a 0.2% drop in Al Rajhi Bank 1120.SE.
In Qatar, the index .QSI added 0.3%, helped by a 0.7% rise in the Gulf's biggest lender Qatar National Bank QNBK.QA and a 1.2% increase in petrochemical maker Industries Qatar IQCD.QA ahead of its earnings announcement.
Outside the Gulf, Egypt's blue-chip index .EGX30 lost 0.3%, with tobacco monopoly Eastern Company EAST.CA falling 2.1%.
SAUDI ARABIA | .TASI fell 0.1% to 12,410 |
QATAR | .QSI gained 0.3% to 10,700 |
EGYPT | .EGX30 down 0.3% to 29,918 |
BAHRAIN | .BAX eased 0.2% to 1,875 |
OMAN | .MSX30 rose 0.3% to 4,556 |
KUWAIT | .BKP added 0.6% to 8,351 |
(Reporting by Ateeq Shariff in Bengaluru; Editing by David Holmes)
((AteeqUr.Shariff@thomsonreuters.com; +918061822788;))
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