RIYADH: Equity markets in the Gulf Cooperation Council countries saw strong growth in January, with Kuwait and 黑料社区 emerging as top performers, according to an analysis. 

In its latest report, Kuwait Financial Center, also known as Markaz, said the substantial increase in the equity markets of Kuwait and the Kingdom pushed up the S&P GCC Composite Index by 3 percent last month. 

Kuwait鈥檚 All Share Index posted a monthly gain of 5.7 percent in January, followed by 黑料社区鈥檚 equity market which grew by 3.1 percent during the same period. 

The S&P GCC Composite Index鈥檚 performance in January was higher than the S&P 500 indices, which expanded at 2.7 percent, and the MSCI EM index, which posted a growth of 1.7 percent. The MSCI World Index grew by 3.5 percent. 

鈥淜uwait equities outperformed global and GCC markets driven by the anticipation of strong earnings of banking stocks and the increased deal activity in the energy and real estate sectors, with most sectors closing the month in positive territory,鈥� said Markaz. 

Abu Dhabi鈥檚 equity index rose by 1.8 percent, Dubai鈥檚 index grew by 0.4 percent, and the Qatar Stock Exchange increased by 0.9 percent in January.

Bahrain鈥檚 index fell by 5.4 percent due to the decline of Aluminum Bahrain stock by 18.5 percent after officially terminating a proposed deal with the 黑料社区n Mining Co. 

Kuwait鈥檚 equity market growth was supported by the movement in key sectors like oil and gas and real estate, which expanded by 11.7 percent and 11.1 percent, respectively, according to the report. 

Last month, Saudi Telecom Co. was the top gainer in Tadawul, with the company鈥檚 share price rising by 8.7 percent. 

STC Bank, the financial arm of stc Group, received a non-objection certificate from the Saudi Central Bank to commence its banking operations in the Kingdom.

STC Bank is the first licensed digital bank in the Kingdom and the latest approval aligns with the financial institution鈥檚 strategy to promote digital transformation and competitiveness within the banking sector while safeguarding monetary and financial stability, SAMA said in a press statement at the time. 

黑料社区鈥檚 Etihad Etisalat Co.鈥檚 share price surged by 8.4 percent, while the stock price of energy giant Saudi Aramco dipped by 0.9 percent due to a delay in phasing out OPEC+ cuts. 

Markaz added that Brent crude oil closed the month at $76.8 per barrel, marking a 2.8 percent increase from December.

鈥淭his move was driven by the US energy sanctions against Russian entities. Further clarity on (US President Donald) Trump鈥檚 trade policies, possible increase in production from the US, and the recovery of demand from China will determine the further course of oil prices,鈥� said the report. 

Gold prices also increased by 6.8 percent month on month, closing at $2,759.3 per ounce. 

The analysis said that the outlook of global asset classes in the coming months could be shaped by Trump鈥檚 trade policies and possible changes in the US Fed鈥檚 rate cut trajectory. 

鈥淲ith China being in the crosshair of Trump鈥檚 tariffs, oil prices could take a hit if the demand recovery from China weakens. Weakness in oil prices could alter OPEC+ plans to unwind production cuts, which would in turn affect GCC economies and markets,鈥� the report added.