Asian stock markets declined on Tuesday, with Gulf markets following suit, after Standard and Poor downgraded Italyís credit rating.
S&P cut its unsolicited ratings on Italy by one notch to A/A-1 and kept its outlook on negative, warning of a deteriorating growth outlook and damaging political uncertainty.
Tokyo fell 1.4 per cent, Sydney lost 1.07, while Hong Kong lost 0.17 per cent, Seol dipped 0.11 per cent.
In the UAE, the Abu Dhabi Securities Exchange General Index was down 0.3 per cent to 2555.52 points.†The Dubai Financial Market General Index was down 0.2 per cent to 1458.85 points.
Elsewhere in the region, Kuwaitís index was down 0.2 per cent to 5965.00 points. Bahrainís index was unchanged at 1257.29 points. Omanís measure was little changed at 5738.15 points. Qatarís benchmark was little changed at 8406.70 points. The Saudi Tadawul All-Share Index was down 0.4 per cent to 6118.34 points.