MIDEAST STOCKS-Gulf flat to lower early on, Saudi cement stocks pull back:
"Gulf stock markets were flat to lower in early trade on Monday, with Saudi Arabia seeing profit-taking in cement shares while real estate stocks remained weak in Dubai.
The region had already dropped on Sunday in response to Wall Street’s Friday plunge, so Gulf markets far outperformed other bourses in Asia, where MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.3 percent on Monday afternoon.
The Saudi index slipped 0.3 percent in the first half-hour as Tabuk Cement pulled back 2.3 percent. Tabuk had jumped in the past several days on a media report that the government had started awarding contracts to build the huge NEOM business zone in the northwest of the country."
'via Blog this'
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