Saudi Arabian shares tumbled the most in almost a month, led by petrochemical companies, after a smaller-than-forecast increase in U.S. payrolls heightened concern that a slower economic recovery will curb oil demand.
Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemicals maker, and National Industrialization Co. (NIC) fell more than 1.5 percent. Al Rajhi Bank (RJHI), the kingdom’s largest publicly traded lender by market value, led declines.
The 146-member Tadawul All Share Index (SASEIDX) fell 1.5 percent to 6,639.23 at 1:49 p.m. in Riyadh, the biggest intraday loss since May 7. Fourteen of 15 industry groups dropped.
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