Negative input from Asian markets amid fresh recession fears in Japan weighed on Gulf Arab equity indices Monday, as only UAE exchanges gained against the sluggish trend.

Worrying news form Nippon that Japan's GDP contracted by 0.7 percent in the third quarter dragged Asian markets slightly down, motivating Gulf Arab investors to stay on the sidelines likewise. As oil prices also got slightly under pressure (the price of U.S. crude in early trading was down half a percent) due to recession fears in the world's third largest economy, the Saudi Arabian market measure Tasi lost 0.8 percent to close at 6,829.53 points.

A report released by the International Energy Agency in Paris that the United States will replace Saudi Arabia as the world's largest oil producer in 2020 added to the uncertainty in Riyadh.

Elsewhere in the region, market measures in Bahrain's Manama and Oman's Muscat both fell by 0.92 percent.

Equity indices in Dubai and Abu Dhabi, which are both in the Gulf state United Arab Emirates (UAE), bucked the sluggish regional trend. The Dubai market measure DFMGI surged 0.75 percent to hit a three-week high at 1,626.22 points.

Earlier in the day, Dubai's state-owned airliner Emirates, the world's fastest-growing carrier, said its half-year profit as of September 30 more than doubled to hit 1.7 billion dirhams (464 million U.S. dollars). Albeit the state-owned carrier is not listed, the Emirates' business development is regarded as a market indicator for the Dubai economy.

Shares of budget flyer Air Arabia, which are listed at the DFM, gained 1.2 percent, closing at 0.692 dirhams (0.18 dollars). After the closing bell rang in Dubai, the Middle East's oldest and largest low-cost-carrier said that in the third quarter it achieved a net profit of 226 million dirhams (61.63 million dollars), 126 percent higher compared to the same quarter in 2011.

Like the Emirates, Air Arabia said a rise in passenger demand along with slightly decreasing jet fuel costs contributed to the profit rise. The UAE's largest developer Emaar Properties added 0. 3 percent to hit 3.66 dirhams (0.99 dollars). National Bank of Abu Dhabi's chief economist Dr. Giyas Gokkent said earlier in the day that in Dubai average listed residential sales price were currently up 14 percent year-on-year.

Dubai's international exchange NASDAQ Dubai saw the FTSE NASDAQ Dubai UAE 20 Index adding 0.53 percent to hit 1,803.11 points.

The ADX exchange in Abu Dhabi gained the most in the Gulf region, finishing Monday 1.32 percent higher at 2,705.93. Waha Capital, a local aviation and maritime transport leasing firm, soared 1.75 percent, ending at 0.58 dirhams (0.16 dollars).

Earlier in the day, Waha said its net profit for the third quarter hit 27.5 million dirhams (7.49 million dollars), representing an increase of 3.3 percent year-on-year. Abu Dhabi's biggest developer Aldar Properties failed to join the positive day- trend and fell 0.76 percent to close at 1.29 dirhams (0.35 dollars) . Gokkent said that in Abu Dhabi average listed residential sales price were down 10 percent year-on-year.