Saudi Gazette - Saudi traders liquidate 30% of equities as Eid approaches:
"Traders in the Saudi stock exchange are set to liquidate 30 percent of their equities ahead of the Eid break over concerns of geopolitical events in the region, reported a local Arabic paper.
Despite large confidence in Saudi Arabia’s economy, and its stability in facing current events, added the newspaper, traders to remember the sharp drop witnessed by the Saudi market prior to Eid in 2008, in light of the financial crisis, severely impacting the price index when trading resumed, added the newspaper.
The Saudi stock exchange lacks the confidence of its traders, according Dr. Salem Baajaja, professor of accountancy at Taif University."
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