(Bloomberg) -- Shares in Tel Aviv gain for a fourth straight session, with the main gauge advancing as much as 1.7%, the most in the Middle East.

Saudi Arabian stocks decline, after earlier adding 0.2%, as the main index trades in overbought territory for the longest period in over two years.

Most markets in the Middle East advance after emerging-market equities rose for a fourth week as signs of easing trade tensions supported riskier assets.

MIDDLE EASTERN MARKETS

  • Israel’s TA-35 up 1.6% as of 11 a.m. local time
    • Healthcare provider Perrigo Co. adds as much as 3.9%, contributing most to the increase
  • The Tadawul All Share Index down 0.4%
    • The 14-day RSI for the Saudi index holds above 70 for the eighth straight session, the longest streak since Dec. 2016
      • Many technical traders view levels above 70 as a sign that the index is overbought and may be due for a correction
    • Dairy producer Almarai falls after its fourth-quarter profit missed the lowest estimate
    • MORE: Saudi Bonds to Join JPMorgan Index in $119 Billion Gulf Addition
  • In Abu Dhabi, Aldar Properties climbs as much as 3.3% after it said sales at Alreeman Development surpassed 1.6b dirhams
    • The ADX General Index is little changed
  • Ahli United Bank in Kuwait gains 0.5% as it’s in discussions with Warba Bank to potentially sell their combined shareholding in Kuwait and Middle East Financial Investment Co.
    • Kuwait’s main gauge advances 0.3%
    • READ: NBK Well-Positioned to Lead Funding for Kuwait, Deputy CEO Says

To contact the reporters on this story: Abeer Abu Omar in Dubai at aabuomar@bloomberg.net;Filipe Pacheco in Dubai at fpacheco4@bloomberg.net

To contact the editors responsible for this story: Blaise Robinson at brobinson58@bloomberg.net, Nicholas Larkin, James Amott

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