March 28, 2017 / 5:46 AM / 10 months ago

MIDEAST STOCKS-Gulf may recover modestly with global trend

DUBAI, March 28 (Reuters) - Stock markets in the Gulf may rebound modestly on Tuesday after global bourses recovered following a slide due to U.S. President Donald Trump’s failure to pass healthcare reform.

MSCI’s broadest index of Asia-Pacific shares outside Japan is up 0.6 percent; oil prices fell overnight but remain within their recent ranges.

Technically, Dubai’s index, last at 3,454 points, remains in a downtrend dating back to early February. But within that trend, it has room to recover to immediate resistance at 3,523 points, the mid-March peak.

Stocks going dividend on Tuesday are Riyad Bank and Saudi Public Transport, National General Insurance in Dubai, and Kuwait Insurance Co. (Reporting by Andrew Torchia)

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