MIDEAST STOCKS-Saudi plunges 5.9 pct as region continues slide | Reuters:
"Saudi Arabia's stock market
plunged 5.9 percent on Monday, leading another day of losses
across the Middle East as the region reacted to sliding oil
prices and a deteriorating global environment.
"Markets in the Gulf are changing their expectations and
looking at the possibility of different conditions in future:
lower oil prices, perhaps lower government spending," said Adel
Merheb, director of equity capital markets at Dubai's Shuaa
Capital.
For that reason, the sell-off in the Gulf may have further
to run, despite valuations that have become considerably cheaper
in the last few days, he added."
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