Dubai stocks confront regional risks after rally to 10-year high

Stocks tied to the strength of Dubai’s economy and population growth “- like Emirates NBD Bank PJSC, toll gate operator Salik Co PJSC and utilities provider Dubai Electricity and Water Authority PJSC “- have led the advance.

Positive earnings news and a lower sensitivity to changes in oil prices than Gulf peers have helped drive the surge in Dubai. Its equity market benefits more from tourism and demand for real estate than…