0535 GMT - Egypt's bourse is likely to be under pressure
after mass protests outside President Mohamed Mursi's palace in
Cairo on Tuesday prompted the leader to leave the building.
Officers fired tear gas at up to 10,000 demonstrators angered
by Mursi's drive to hold a referendum on a new constitution on
Cairo's bourse rallied on Tuesday as regional institutional
investors bought shares after the Supreme Judicial Council
cleared the way for a vote on a new constitution. The market may
give these gains back on persisting political turmoil.
Elsewhere, UAE's markets gained on Tuesday upon resuming
trade after a long weekend, with Dubai's index rising
0.2 percent to finish at 1,611 points.
"(We are) waiting for the upward break of 1,630 resistance
level, which will complete a bullish trend reversal pattern to
go long," MENA Corp says in a note. "Only the downward break of
1,580 would cancel the bullish scenario."
Dubai's builder Arabtec Holding will be in focus
on Wednesday after saying it won a 2.3 billion riyals ($631.76
million) contract from Qatar's Msheireb Properties.
In Qatar, transatlantic stock markets operator NYSE Euronext
, has reduced its stake in Qatar's exchange to 12 percent
by selling an 8 percent holding to the Gulf state's sovereign
wealth fund, Qatar Holding.
Elsewhere, Asian shares rose on Wednesday, led by surging
Chinese equities, but concerns over whether U.S. lawmakers can
break a budget impasse before year-end to avert a possible
economic slump weighed on sentiment.
($1 = 3.6406 Qatar rials)
(Reporting by Nadia Saleem; Editing by Mirna Sleiman; Editing