MIDEAST STOCKS-Saudi shares fall amid profit-taking ahead of MSCI decision | Reuters:
"Saudi stocks declined on Wednesday as investors cut risk ahead of a decision from global index compiler MSCI on whether to include Saudi Arabia and its $526 billion bourse in its emerging market indexes. “It would not be surprising to see some profit taking in the Saudi market after a strong run up into the MSCI inclusion date,” said Saleem Khokhar, head of equities at First Abu Dhabi Bank. “Valuations of Saudi equities are at the higher end of historic ranges even though the medium-to-longer term underlying fundamentals for companies remain strong.”"
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