* Regional trading volume generally low
* Emaar Malls had dropped after news of its bid
* Amazon now appears to have won the contest
* Vodafone Qatar jumps in heavy trade
* Saudi Automotive surges in unusually large volume
By Andrew Torchia
DUBAI, March 28 Most Gulf stock markets edged up
on Tuesday although trading volumes were generally low, while
Emaar Malls jumped in Dubai after the company appeared to lose a
contest with Amazon.com to acquire Middle Eastern online
Emaar Malls added 3.6 percent, outperforming
Dubai's stock index, which dropped 0.2 percent.
The company's shares had dropped 2.8 percent in the previous
two days on news it was making an $800 million bid to acquire
e-commerce operator Souq.com, which could have put it in a
bidding war with Amazon.com. The U.S. company had
agreed in principle to buy Souq.com.
In a report, investment bank Exotix listed possible concerns
for minority shareholders in Emaar Malls' bid, including whether
the online retail industry had synergies with retail mall
management, and whether buying Souq.com would be an optimal
allocation of capital.
On Tuesday, Amazon.com and Souq.com said jointly
that Amazon had agreed to acquire the Middle Eastern firm,
apparently ending the battle.
Seven of Dubai's most heavily traded stocks fell and two
were flat; Emaar Malls was the only gainer among them.
Abu Dhabi's index edged up 0.1 percent and Qatar
rose 0.3 percent, buoyed by Vodafone Qatar,
which gained 4.4 percent and was the most heavily traded stock.
The Saudi Arabian index rose 0.3 percent. Saudi
Automotive, which offers services to motorists, saw
unusually heavy trading and was the most active stock; it surged
Riyad Bank lost 1.9 percent and Saudi Public
Transport fell 3.0 percent as the two stocks went
In Kuwait, Kuwait Insurance Co sank 3.6 percent
as it went ex-dividend but the market index gained 0.3
* The index rose 0.3 percent to 6,873 points.
* The index fell 0.2 percent to 3,447 points.
* The index edged up 0.1 percent to 4,470 points.
* The index rose 0.3 percent to 10,462 points.
* The index gained 0.3 percent to 7,052 points.
* The index edged up 0.1 percent to 12,983 points.
* The index fell 1.1 percent to 5,543 points.
* The index dropped 0.4 percent to 1,378 points.
(Editing by Louise Heavens)