Stock market trading in Saudi Arabia could slow in coming weeks because of the risk that authorities may crack down on rampant speculation, but the market's long-term uptrend is unlikely to be reversed, fund managers and analysts say.
King Abdullah has ordered the Capital Market Authority (CMA)to take action against manipulation of the market, insisting that members of the extended royal family - which has thousands of members - should not be spared if they are implicated, the daily Alsharq newspaper reported on Monday.
"With the current return of investors to the stock market, there has been a return of some violations that require investigation and accountability, requiring violators' cases to be looked at by the specialised legal authority," the newspaper quoted the king as saying in an unusual message to the CMA.
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