Gulf stock markets were muted on Sunday after Joe Biden’s U.S. election victory, reflecting expectations that his administration will not bring radical changes to the region’s struggling economies.
In Saudi Arabia, the stocks index declined 0.2% at market open but posted some gains in early trading and was up 0.3% at 0725 GMT. Other Gulf markets were mixed.
Expectations of moderate oil prices and a weaker U.S. dollar under a Biden administration could add pressure on Gulf government’s budget deficits, analysts say, accelerating the need for reforms.
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