Saudi Arabia's index reversed early gains to slump to an 18-week closing low on Wednesday as global uncertainty prompted investors to cut positions ahead of the kingdom's weekend.
The Arab world's largest bourse fell 1.1 percent, closing at its lowest since Jan. 31. The market is volatile, trading in a 2.9 percent range in the final session before the local Thursday-Friday weekend.
"We are not sure what caused the dramatic change in the market - of course, one reason was that traders were giving up positions to cut risk (exposure) to global factors ahead of the weekend," said Hesham Tuffaha at Bakheet Investment Group head of asset management.
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