MIDEAST STOCKS-Petrochemicals regain some strength in Saudi; Egypt tumbles | Reuters:
"A return of some strength to beaten-down petrochemical stocks helped support Saudi Arabia's stock market early on Sunday, while Egypt fell sharply because of a shaky outlook for the Chinese economy and global markets.
The Saudi index, which had plunged 4.5 percent on Thursday, was down only 0.2 percent in the opening minutes of trade. Top petrochemical producer Saudi Basic Industries was flat while Saudi Kayan rose 0.8 percent.
However, underlining expectations for an economic slowdown in Saudi Arabia, retailer Jarir Marketing - a top play on the kingdom's consumer demand - fell 1.1 percent. It posted a fourth-quarter net profit flat to the previous year, in line with analysts' estimates.
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