MIDEAST STOCKS-Saudi, Egypt fall as China weigh on oil, emerging markets - Yahoo Maktoob News:
"Stock markets in Saudi Arabia and Egypt declined in early trade on Wednesday as China's decision to further devalue the yuan put pressure on commodities and emerging market equities.
Saudi Arabia's main index fell 1.5 percent and nearly all stock were in the red. Petrochemicals heavyweight Saudi Basic Industries Corp (SABIC), whose earnings are sensitive to oil prices, dropped 3.3 percent.
The sell-off also affected other sectors. The kingdom's biggest listed foodmaker, Savola Group, fell 2.6 percent and National Commercial Bank, the biggest local lender, was down 2 percent."
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