Iran missile attacks on Kuwait and Bahrain, Gulf stock markets come under pressure and decline

⑴ After Iran fired ballistic missiles at Kuwait and Bahrain, where US military bases are located, Gulf region stock markets closed lower on Wednesday. The exchange of fire between both sides is one of the fiercest battles since the ceasefire in April and comes at a time when diplomatic efforts have stalled. ⑵ Nevertheless, Junaid Ansari from Kuwait-based Kamco Invest stated that the losses in the region were less than expected, which may indicate that the differentiation between the war itself, its economic impact, and how the financial markets reflect risk expectations is intensifying. Dubai Financial Market General Index fell by 0.8%, Abu Dhabi benchmark index dropped by 0.4%, Saudi TASI index fell by 0.1%, and Qatar's main index closed down by 0.1%.