Investor sentiment weakens across Gulf equity markets after Yemen's Houthis claim missile and drone strikes on sensitive targets in Riyadh. The pressure hits Saudi Arabia and Qatar at the open, adding a market dimension to a widening regional confrontation tied to tensions involving Iran, Israel and the U.S.
Highlights
- Saudi Arabia's benchmark index falls 0.5% and Saudi Aramco drops 0.6% following Houthi claims of targeting Riyadh, with visible smoke near the airport.
- Regional security concerns and conflict weigh on Gulf markets, with Qatar's main index down 0.9% and Industries Qatar declining 3.7%.
- Saudi requests for direct U.S. military intervention against Houthis are reportedly rejected by President Donald Trump, while China privately urges Tehran to restrain Iran-aligned Houthis.
Market reaction after Riyadh security scare
As reported by Reuters, Saudi Arabia's benchmark index falls 0.5% on Sunday after the Houthis say they struck targets in Riyadh a day earlier. Oil major Saudi Aramco declines 0.6%, while Saudi National Bank, the kingdom's largest lender by assets, loses 0.5%.Flames and thick smoke are seen near the Saudi capital's main airport after authorities issue alerts warning of potential danger around Riyadh. The security concerns weigh on trading at the start of the session and contribute to weaker sentiment across regional bourses.
Regional conflict adds pressure on Gulf bourses
The confrontation becomes another front in the broader conflict that follows U.S. and Israeli strikes on Iran in late February. President Donald Trump reportedly rejects Saudi requests for direct U.S. military intervention against the Houthis.In Qatar, the main index falls 0.9%, pressured by a 3.7% drop in petrochemical producer Industries Qatar. China also privately urges Tehran to help restrain the Iran-aligned Houthis after a Saudi appeal to Beijing, according to three Iranian sources familiar with the discussions.
We previously reported on escalating Houthi strikes on Saudi Arabia, including missile and drone attacks near Riyadh’s main airport and claims of an attack on an Aramco facility in Yanbu. That piece outlined how the widening confrontation was raising concerns over Saudi air defenses, energy infrastructure, and key Red Sea shipping routes, adding to broader regional tensions.
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