March 5 Reuters Major stock markets in the Gulf were subdued in early trade on Tuesday, on falling oil prices as the world39;s biggest crude importer China39;s economic reforms underwhelmed investors.

Oil prices a catalyst for the Gulf39;s financial markets  fell for a second day as pledges by China to transform its economy amid stuttering growth since the COVID19 pandemic failed to impress investors concerned about slower consumption.

The Organization of the Petroleum Exporting Countries and its allies OPEC on Sunday extended their voluntary oil output cuts of 2.2 million barrels per day bpd into the second quarter to support prices amid global growth concerns and rising output outside the group.

Saudi Arabia39;s benchmark index was down 0.1, hit by a 1.2 fall in the country39;s biggest lender Saudi National Bank.

However, oil giant Saudi Aramco added 0.6.

Singapore39;s Temasek Holdings has shortlisted Aramco among a handful of companies to purchase most of the assets of liquefied natural gas trading firm Pavilion Energy, Reuters reported on Tuesday, citing sources with knowledge of the matter.

In Abu Dhabi, the index eased 0.1.

Dubai39;s main share index declined 1.1, weighed down by a 1 fall in bluechip developer Emaar Properties and a 2 slide in toll operator Salik CO.

Meanwhile, nonoil business activity in the United Arab Emirates accelerated in February after a slowdown the previous month, helped by a rise in output and business confidence, a survey showed…