UAE exchanges to reopen Wednesday after two-day suspension due to Iran conflict

The United ​Arab Emirates' stock markets will resume trading on Wednesday ‌after a two-day suspension following Iran's missile and drone strikes on the Gulf state, the country's capital markets regulator said on Tuesday, Report informs via Reuters.

The UAE Capital ​Markets Authority (CMA) said the Abu Dhabi Securities Exchange (ADX) and ​Dubai Financial Market (DFM) would both open for trading on ⁠Wednesday.

"The resumption follows continued coordination between the Authority and the ​exchanges in line with the previously communicated timeframe," CMA said in ​a statement, adding it would continue to monitor developments and take measures to protect investors.

The two-day closure halted trade in billions of dollars in ​listed assets as investors waited for clarity on the scale ​of damage from the weekend strikes, which hit airports, ports and residential ‌areas ⁠across both emirates.

In a separate statement, the Dubai Financial Services Authority (DFSA) said that Nasdaq Dubai would also resume trading on Wednesday.

UAE bourses have typically only suspended regular trading during periods of ​national mourning, including ​after the death ⁠of President Sheikh Khalifa bin Zayed Al Nahyan in May 2022.

Gulf markets that traded on ​Sunday such as Saudi Arabia, Oman and Bahrain ​saw sharp ⁠declines in their first session since the US and Israel launched strikes on Iran - signaling the potential for heavy selling when ⁠UAE markets ​reopen.