Gulf bourses decline amid lack of catalysts

Most regional markets finished lower yesterday as investors booked recent gains amid a lack of local drivers but thin trading limited losses. Dubai's benchmark fell 0.8 percent, making its largest decline since Sept. 10 as property-related stocks headed losers. Trading volumes slumped by nearly half from the previous session, indicating limited selling pressure. Abu Dhabi's measure also retreated, slipping 0.2 percent in its fourth decline in five sessions since Sept. 16's six-month peak. In Qatar, the index fell 0.4 percent in thin trade, taking its losses to 0.6 percent since Monday's 19-week high. Oman's index slipped 0.3 percent, lower for a fourth session in five since Sept. 16's 11-week high. Investors booked recent gains, with many preferring to sit on cash until third-quarter earnings season starts next month. Bucking the regional trend, Kuwait's benchmark added 0.2 percent, its fourth gain in five sessions as volumes reached a four-week high. From arabnews