(Adds other markets, analyst comment)

April 8 (Reuters) - Stock markets in the Gulf region

jumped on Wednesday in line with global equities after U.S.

President Donald Trump agreed to a two-week ceasefire with Iran

on Tuesday.

In Asia, Japan's Nikkei was up about 5.4% while

South Korea's KOSPI gained 6.8%, triggering a brief halt

in trading. MSCI's broadest index of Asia-Pacific shares outside

Japan was up 1%.

Trump said the last-minute deal was subject to Iran's

agreement to pause its blockade of oil and gas supplies through

the Strait of Hormuz, which before the war typically handled

about one-fifth of global oil and liquefied natural gas

shipments.

Iranian Foreign Minister Abbas Araqchi said Tehran would

cease counter-attacks and provide safe passage through the

waterway if attacks against it stopped.

Pakistani Prime Minister Shehbaz Sharif said he had invited

Iranian and U.S. delegations to meet in Islamabad on Friday.

Dubai's main market spiked as much as 8.5%, its

highest intraday gain in more than 11 years, with the

heavyweight real estate and financial sectors outperforming.

At 0730 GMT the Dubai index was trading 6.4% higher, led by

a 9.8% jump in blue-chip developer Emaar Properties

and an 11.3% rise in top lender Emirates NBD Bank .

Abu Dhabi's benchmark index climbed as much as

4.9% in early trade, its biggest jump in six years, boosted by

gains in the financial, real estate, logistics and energy

sectors.

At 0730 GMT the Abu Dhabi index was up 3.2% with the largest

lender, First Abu Dhabi Bank, rising 8.3% and real

estate giant Aldar Properties jumping 8.8%.

Energy firm Adnoc Gas gained 3.8%, while Abu

Dhabi Ports Company advanced 9.8%.

U.S. presidential policies remain difficult to predict, so

investors are expected to stay cautious. Even though markets are

reacting positively to the recent announcement, the fundamentals

of the UAE equity market remain strong, said Tariq Qaqish,

deputy CEO at FH Capital in the UAE.

At the same time, higher risk levels are increasing the

discount rate used to value capital markets, which may put

pressure on valuations, he added.

Qaqish said he expected the UAE government to keep

supporting the economy, notably through aid for banks, support

for small and medium enterprises, and new measures to restore

confidence.

In Qatar, the index jumped 3.4%, as all its

constituents advanced, led by energy shares.

Petrochemical maker Industries Qatar jumped 6.2%

and Qatar Gas Transport surged 8%, the top gainer.

The Gulf's biggest lender, Qatar National Bank,

climbed 3.7%.

Saudi Arabia's benchmark index opened 1.4% higher,

lifted by gains in banking and energy stocks.

Oil giant Saudi Aramco gained 2.1%, while largest

lender Al Rajhi Bank added 2.4%.

Brent futures were down 13.3% to $94.78 a barrel at

0727 GMT.