Dubai's shares fell yesterday as investors closed positions ahead of the holidays.
"Most people don't want to stay invested in markets with three sessions closed for trading," said Nabil Al Rantisi, the managing director of brokerage at Mena Corp, an investment company in Abu Dhabi.
The Dubai Financial Market General Index lost 0.5 per cent to 1,641.34 yesterday.
Emaar Properties, the region's biggest developer, declined 1.8 per cent to Dh3.68 after third-quarter profit missed estimates.
Abu Dhabi's index was little changed, up 0.1 per cent to 2,657.72.
The local bourses will be closed today through to Sunday to observe Eid Al Adha. Trading will resume on Monday, according to a statement posted on the regulator's website.
"International markets will be trading on Thursday and Friday. With the drop on Wednesday in the US in mind, the four-day holiday created some panic among investors," Mr Al Rantisi said.
The Dow Jones Jones Industrial Average fell 1.8 per cent to 13,102.50 on Wednesday, while the S&P 500 Index declined 1.4 per cent to 1,413.11 amid investor worries of disappointing profit growth amid a slowing global economy.
Elsewhere in the region, Kuwait's measure added 0.4 per cent to 5,770.34. Bahrain's index slipped 0.2 per cent to 1,060.09.
Oman's MSM 30 Index slipped 0.1 per cent to 5,654.01. Qatar's QE Index was little changed, up 0.05 per cent, to 8,516.31.
The Saudi Tadawul All-Share Index rose 0.9 per cent to 6,791.04.
