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Kuwait and Oman last week set up special funds to buy stocks on the sagging markets while the United Arab Emirates on Saturday announced the start of a process to merge two leading real estate finance firms.
All seven regional markets dropped, with Dubai, Doha and Saudi shares leading the way.
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"I think there is much negative sentiment in the Gulf bourses because of the flurry of (bad) news from the international markets," head of economic research at Kuwait's Global Investment House, Faisal Hasan, told AFP.
"There was also a contagion effect from the slump of the Saudi market," on Saturday.
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The Saudi bourse is open from Saturday to Wednesday while other Gulf stock exchanges operate from Sunday to Thursday.
The Saudi Tadawul All-Shares Index (TASI), which dived 9.2 percent on the week's