Saudi Arabian shares dropped the most in a week, snapping four days of gains as swinging oil prices raised concerns about the economy of the world’s largest crude exporter.
Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemicals maker and Al Rajhi Bank (RJHI), the kingdom’s largest publicly traded lender by market value, paced the losses.
The 146-member Tadawul All Share Index (SASEIDX) declined 0.35 percent, the measure’s largest intra-day loss since May 7, to 6,698.79 at 12:13 p.m. in Riyadh. Seven shares dropped for every six stocks that gained.
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