Dubai has managed a long period of success at the stock index as it closed to a two-and-a-half month high Wednesday. This followed a strong fourth-quarter, where Reuters reported that real estate companies had six days of major gains. These were driven by different factors, mainly hope for reconciliatory talks between the US and China.

Dubai's index ended up becoming 2.6 percent higher as it closed, good for 2,632 points. This is the highest it's been since December 2018. The strong drive had been helped by the strong performance of Emaar Properties--notably Emaar Malls as well as the real estate property arm of the company. Both assets have risen in most sessions.

Other property stocks which performed strongly are DAMAC Properties and Arabtec, which ended at 4.8 and 5 percent shares, respectively. This is a far cry from 2018 when the Dubai index found itself in trouble after falling more than 25 percent. This led to it being dubbed the 'worst-performing' stock market in local terms.

This time around, Dubai would manage to avoid such a tag although other countries aren't as fortunate. As the country's stocks rose admirably, other Gulf countries such as Qatar paled in comparison. The index of the said country fell again, declining 2.4 percent for its lowest ever since March 2018.

Qatar, according to Business Recorder, had performed relatively well in 2018 but did not do so well afterward. Impacts related to 'higher ownership,' among others, had affected the index, yielding a 2.4 percent low. Even Qatar's strong companies closed the stocks with figures being noticeably in the red.

Abu Dhabi, Egypt, and Saudi Arabia, meanwhile, closed at somewhere between 0.2 and 0.1 percentage points. In Abu Dhabi, Aldar Properties posted a growth of 11.5 percent for its best gain to date; Egypt's Commercial International Bank and Arabian Cotton Ginning gained 1.7 percent and 3.4 percent, respectively; and Saudi's National Commercial Bank finished with a 0.7 gain.

Dubai's growth, meanwhile, had been observed by industry experts and they came to the conclusion that it was driven by 'short covering.' The index improved thanks to stocks like DAMAC Properties and Emaar Malls, which had dragged on for as long as anyone did not expect. It could also be due to having been oversold, leading to a strong yield.