Dubai stocks post best day in seven months, m-cap tops Dh1 trillion again

Dubai's financial market (DFM) experienced its best day in seven months on Thursday, with the index gaining 0.17 percent and trading at 6,051.23. The market capitalization rebounded above Dh1 trillion, up from Dh967.22 billion the previous day. Telecoms led sector gains, climbing 7.81 percent, while real estate rose 4.2 percent and banks increased 3.99 percent.

Emaar Properties and Emaar Development also saw strong gains, up 4.4 percent and 4.89 percent respectively, following Emaar's announcement of a voluntary cash tender offer for up to 100 percent of its subsidiary.

Across Asia, markets have been bullish on Thursday. India's Nifty 50 rose 1.8 percent, settling above 24,400, while the Sensex gained 1550 points. Consumer stocks powered the rally across the region, with 383 out of 567 stocks advancing in trade on the Pakistan KSE100. China's Hang Seng surged 3.3 percent, and the Hang Seng Tech Index jumped 5 percent, with Tencent and Alibaba each adding more than 6 percent.

The Shanghai Composite, however, fell 0.3 percent. Japanese markets were mixed, with the Nikkei 225 down 1.6 percent and the Topix up 1.3 percent. South Korean stocks saw the steepest decline, with the Kospi dropping 5.2 percent, as Samsung Electronics and SK Hynix suffered losses of over 7 percent due to concerns over tighter data-center regulation.