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Most Gulf bourses in red on Houthi attack and Hormuz shipping slump
Most Gulf stock markets closed lower on Tuesday, with Saudi shares posting the biggest losses, as a fresh Houthi attack and a sharp drop in shipping through the Strait of Hormuz heightened fears that the conflict could escalate further. Saudi Arabia’s benchmark index dropped 0.9%, weighed down by a 1.3% fall in Saudi Arabian Mining Company and a 0.6% dip in oil major Saudi Aramco. Yemeni officials said the Houthis struck the Khamis Mushait airbase in southern Saudi Arabia with missiles and drones, damaging hangars, radar systems, runways and ammunition depots. The group said the attack was ret...
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