DUBAI, Sept 8 Oil-linked shares in the Gulf may
firm on Thursday after crude prices bounced, but trading volumes
in equity markets are expected to stay low before next week's
Eid al-Adha holidays in the region.
Brent crude climbed 1.4 percent to above $48.50 a
barrel after U.S. crude inventories surprisingly plunged last
week in their largest weekly drawdown for over three decades.
Meanwhile, Asian shares are at one-year peaks after Chinese
trade data topped forecasts and imports recorded their first
annual rise since late 2014.
The positive global environment may encourage buying of
shares in petrochemical exporters in particular, but with
bourses in the Middle East closed for most of next week, many
investors may hesitate to take fresh long positions.
On Wednesday Saudi Arabia's stock market posted its lowest
trading volume this year, suggesting to fund managers that there
is little appetite for any extended rally.
(Reporting by Celine Aswad; Editing by Andrew Torchia)