Stock markets in the United Arab Emirates experienced gains on Monday, aligning with Asian markets as investors looked forward to the outcome of U.S.-China trade talks taking place in London. The discussions are seen as crucial for easing the ongoing trade dispute between the two economic powerhouses, which has expanded to include export controls on essential goods and components critical to global supply chains.

Dubai’s benchmark index, the DFMGI, reached its highest level since 2008 and concluded the day with a 1% increase, buoyed by positive performance across nearly all sectors. The tolls operator Salik Company (SALIK) saw a rise of 2.3%, while Deyaar Development (DEYAAR) surged significantly by 14.6%.

In Abu Dhabi, the FADGI index climbed for a third consecutive session, gaining 0.1%. This increase was supported by a 1.6% rise in blue-chip developer Aldar Properties (ALDAR) and a 1.8% advance for Abu Dhabi National Energy Company (TAQA), the emirate’s flagship energy firm.

It is noteworthy that most stock markets in the Gulf region, including Saudi Arabia, Qatar, and Kuwait, were closed on Monday due to a public holiday. The FADGI index in Abu Dhabi reached 9 748, while the DFMGI in Dubai advanced to 5 593.