DOHA
\nMajor stock exchanges in the Gulf declined on Wednesday, tracking global equities ahead of release of U.S. CPI data as concerns around the Federal Reserve\u2019s rate trajectory dampened investor sentiment.
\nThe decline was led by the Qatari index (QSI), which slipped 0.4% after a 1.1% decline in Gulf\u2019s largest lender Qatar National Bank (QNBK.QA) and a 0.8% decrease in Commercial Bank (COMB.QA).
\nAbu Dhabi\u2019s benchmark index (FTFADGI) dropped 0.2%, putting it on track to end a four-session winning streak, with Conglomerate Alpha Dhabi Holding (ALPHADHABI.AD) losing 0.5% and Adnoc Gas (ADNOCGAS.AD) slipping 0.6%.
\nIn Asia, MSCI\u2019s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) slipped 0.17%, while Tokyo\u2019s Nikkei (N225) eased 0.21%.
\nThe U.S. inflation data is slated for release later in the day, with expectations of core month-on-month inflation of 0.2% in August, the same as July.
\nMonetary policy in the six-member Gulf Cooperation Council is usually guided by Fed policy, as most regional currencies are pegged to the U.S. dollar.
\nDubai\u2019s main index (DFMGI) fell 0.1% as half of its stocks were in the red, including blue-chip developer Emaar Properties (EMAR.DU) which declined 0.7%, while Emirates Central Cooling Systems Corporation (EMPOWER.DU) dropped 1.1%.
\nSaudi Arabia\u2019s benchmark index (TASI) edged 0.1% lower, trading near a three-month low, pressured by a 2.7% slump in Gulf\u2019s largest petrochemical firm Saudi Basic Industries (2010.SE) and a 0.9% drop in Dr Sulaiman Al-Habib Medical Services (4013.SE).
\nHowever, IT firm Al Moammar Information Systems (7200.SE) jumped 3% after it launched MIS Pay, a \u201cbuy now and pay later\u201d service.
\nCrude prices, a key contributor to Gulf economy, also extended gains on supply concerns over Libyan output hit and OPEC+ countries\u2019 commitment to production cut.
\nBrent crude was up 0.7% or $0.60 to $92.64 a barrel by 0800 GMT.<\/p>\n","protected":false},"excerpt":{"rendered":"
DOHA Major stock exchanges in the Gulf declined on Wednesday, tracking global equities ahead of release of U.S. CPI data as concerns around the Federal Reserve\u2019s rate trajectory dampened investor sentiment. The decline was led by the Qatari index (QSI), which slipped 0.4% after a 1.1% decline in Gulf\u2019s largest lender Qatar National Bank (QNBK.QA) […]<\/p>\n","protected":false},"author":2,"featured_media":355794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-355770","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"yoast_head":"\n