Feb 8 Reuters Gulf stock markets tarded higher on Wednesday after lesshawkish comments from U.S. Federal Reserve Chair Jerome Powell lifted sentiment and fuelled investor hopes that it may soon ease monetary policy.

In an eagerly awaited speech earlier on Tuesday, the Fed39;s Powell reiterated that disinflation has begun.

With lessaggressive interest rate hikes in the United States, the market is hoping the world39;s biggest economy and oil consumer can dodge a sharper slowdown in economic activity or even a recession and avoid a slump in oil demand.

Most Gulf Cooperation Council countries, including Saudi Arabia, the United Arab Emirates and Qatar, have their currencies pegged to the U.S. dollar and follow the Fed39;s policy moves closely, exposing the region to a direct impact from monetary tightening in the world39;s largest economy.

The Qatari Stock index rose 0.4, lifted by gains in almost all sectors with Qatar Insurance jumping 5.5, and heavyweight Islamic bank Qatar Islamic Bank climbing 1.1.

Gulf39;s largest lender Qatar National Bank rose 0.4, recouping losses after two sessions of decline.

Dubai39;s benchmark stock index rose marginally with Emaar Properties rising 1.1 and tolls operator Salik gaining 0.8. But, Dubai39;s biggest lender Emirates NBD and Emirates Central Cooling declined 0.7 and 0.6, respectively.

Saudi Arabia39;s stock index edged 0.1 higher to snap seven sessions of losses. The benchmark index was aided by energy and healthcare sectors…