Updates to closing prices

By Ateeq Shariff

Jan 28 (Reuters) - Most Gulf stock markets closed higher on Wednesday as investors focused on corporate earnings and firmer oil prices, while the Egyptian stock exchange snapped a nine-day winning streak.

Saudi Arabia's benchmark index .TASI gained 0.7%, with oil major Saudi Aramco 2222.SE up 1.5%, while Alinma Bank 1150.SE advanced 3.2% following a sharp rise in annual net profit.

In a separate bourse filing, the bank also proposed a capital increase through bonus shares, granting one bonus share for every five shares held.

Crude prices - a catalyst for the Gulf's financial markets - hit their highest level since late September on Wednesday after a winter storm disrupted U.S. crude output while a weak U.S. dollar and continued Kazakh outages lent further support.

Aramco-led energy stocks lifted the market, though gains were limited by caution ahead of today's U.S. Federal Reserve meeting, with attention on Chair Jerome Powell's remarks, the 2026 easing outlook, and Fed independence, said Joseph Dahrieh, Managing Director at Tickmill.

"Nevertheless, the Saudi market appears poised for further gains, boosted by Q4 earnings, the potential opening of the market to foreign investors on February 1, and solid non-oil growth projections for the year."

Dubai's main share index .DFMGI advanced 0.8%, with blue-chip developer Emaar Properties EMAR.DU rising 2.3%.

Among other gainers, Dubai Financial Market DFM.DU jumped 1.8%, as the bourse operator is slated to report its earnings later in the day.

In Abu Dhabi, the index .FTAFDGI added 0.4%, with ADNOC Gas ADNOCGAS.AD up 1.4%.

The energy firm will invest more than $20 billion to increase its gas processing capacity by almost 30% by 2029, its CEO Fatema Al Nuaimi said on Tuesday.

Elsewhere, the UAE's largest lender First Abu Dhabi Bank FAB.AD closed 0.7% higher, following a 22% increase in fourth-quarter net profit.

The Qatari index .QSI gained 0.8%, led by a 1.3% rise in petrochemical maker Industries Qatar IQCD.QA. Mesaieed Petrochemical MPHC.QA added 1.4% ahead of its earnings announcement.

Outside the Gulf, Egypt's blue-chip index .EGX30 eased 0.1%, ending a nine-day winning streak.