By Ateeq Shariff

Aug 24 (Reuters) - Most stock markets in the Gulf ended

higher on Sunday after U.S. Federal Reserve Chair Jerome Powell

pointed to a potential September interest rate cut during his

speech at the Jackson Hole Symposium.

Powell on Friday signalled a possible rate cut next month,

saying that risks to the job market were rising but also noting

that inflation remained a threat and a decision was not set in

stone.

Traders boosted bets on a September cut to nearly 90%,

compared with 75% before Powell's remarks.

U.S. monetary policy shifts have a significant impact on

Gulf markets, where most currencies are pegged to the dollar.

Saudi Arabia's benchmark index added 0.4%, helped by

a 0.7% rise for oil major Saudi Aramco.

Elsewhere, ACWA Power Company finished with a 1.6%

gain after obtaining financing for two large-scale combined

cycle gas turbine (CCGT) power plants in Saudi Arabia, with a

total capacity of 3,600 megawatts.

ACWA Power holds a 35% effective shareholding in each of the

two power plants.

In Qatar, the index eased 0.2%, hit by a 1% fall for

the Gulf's biggest lender, Qatar National Bank.

Outside the Gulf, Egypt's blue-chip index rose

0.5%, with tobacco monopoly Eastern Company ( EML ) advancing

by 3.7%.

SAUDI ARABIA rose 0.4% to 10,905

QATAR eased 0.2% to 11,323

EGYPT up 0.5% to 35,812

BAHRAIN added 0.2% to 1,935

OMAN gained 0.9% to 5,005

KUWAIT lost 0.3% to 9,254