By Arif Sharif Dec. 11 (Bloomberg) -- United Arab Emirates shares gained as the stock exchanges opened after a 10-day holiday for National Day and Eid al-Adha and as Asian stocks rose for a fifth day and crude oil advanced. Emaar Properties PJSC, the Middle East’s biggest publicly traded real-estate developer, increased. Industries Qatar, the region’s second-largest chemicals maker after Saudi Basic Industries Corp., rose for a fourth day and Abu Dhabi National Energy Co. gained for the first time this month after it formed a joint venture. “There is cautious optimism, international markets generally are up over 6.5 to 7 percent over the U.A.E. holiday period,” wrote Ali Khan, head of cash equity trading at Arqaam Capital Ltd., in an e-mail today. “Oil prices have stabilized as well.” The Dubai Financial Market General Index rose 0.6 percent to close at 1,987.26, while the Abu Dhabi Securities Exchange General Index climbed 0.1 percent. The DSM 20 Index added 1.5 percent to 6,260.98, paring the decline so far this year to 35 percent. Bahrain’s benchmark index lost less than 0.1 percent. Asian stocks advanced, driving the region’s benchmark MSCI Asia Pacific Index to a fifth day of gains, as the U.S. moved closer to a $14 billion rescue of American car companies and South Korea cut interest rates to a record low. Holiday Crude oil rose as much as 5.3 percent to $45.84 after Saudi Arabia’s oil minister said the country is producing near its OPEC target, a sign the world’s biggest exporter is complying with supply cuts agreed to by the group in October. The Organization of Petroleum Exporting Countries is meeting in Algeria on Dec. 17 to consider production cuts to help stabilize prices that have tumbled about 70 percent since July due to the financial crisis. U.A.E. markets opened today for the first time since Dec. 1, while Bahrain’s bourse resumed trading after a three-day holiday. Kuwait’s and Oman’s bourse remained shut and Saudi Arabia’s bourse is closed for the weekend. Emaar rose 3.7 percent to 3.09 dirhams. Industries Qatar climbed 4.2 percent to 79.3 riyals, bringing the four-day advance to 7.2 percent. Abu Dhabi National Energy, the state-owned energy company known as Taqa, gained 3.2 percent to 1.3 dirhams. Taqa yesterday formed a joint venture to invest in U.S. energy companies with RBS Sempra Commodities. Emirates Telecommunications Corp., the U.A.E.’s biggest phone company, increased 1.6 percent to 12.45 dirhams. Abu Dhabi Commercial Bank PJSC, the country’s third-largest bank by assets, added 4.3 percent to 2.66 dirhams. Salam International Investment Ltd. rose 1.9 percent to 11 riyals. The Qatari company with assets in construction, energy and technology said its board recommended a cash dividend of 0.0625 riyals a share for 2008 and distributing one free share for every 16 held. To contact the reporter on this story: Arif Sharif in Dubai at asharif2@bloomberg.net

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