By Sultan Al-Radad

Riyadh-Mubasher: Analysts have made varying expectations for the performance of the local stock market after news emerged of a Saudi-led airstrike against Houthi rebels in Yemen late Wednesday.

An alliance of 10 countries and the US have announced their support for the operations against the Houthis, who have waged a campaign against the government of Yemeni President Abd-Rabbu Mansour Hadi since last year and recently seized the southern city of Aden, where the president has taken refuge.

Economist Mohamed Al-Suwaid said equities will show positive performance, especially amid the rise in oil prices, in addition to international powers backing the military action.

Meanwhile, Ali Al-Jaafari, a technical analyst, said trading should be halted to avoid massive losses, as investors’ worries mount. He also called for state support for the market, saying that there will be huge losses in equities if sovereign funds do not provide support.