The stock exchanges in Dubai and Abu Dhabi will be closed "until further notice" due to the ongoing conflict in the region, the UAE's financial regulatory authority announced Sunday.

The Emirates have been hit by Iranian strikes since Saturday in response to joint Israeli-US attacks on the Islamic republic.

An initial statement said the closure would be for Monday and Tuesday, but that position was quickly revised.

"The Authority confirms that it will continue to closely monitor developments in the region and assess the situation on an ongoing basis, taking any further measures as necessary," said the statement.

"All parties concerned are advised to follow official UAE Capital Market Authority, ADX and DFM channels for further updates," it added.