MIDEAST STOCKS-Saudi market takes breather amid profit-taking, regional markets mostly up | Reuters:
Saudi shares slipped on Wednesday as investors booked profits after three days of gains, while regional markets ended mostly higher on a rise in oil prices.
With company earnings out of the way and the end of an extended holiday last week, equity investors cut their exposure to risky assets.
“The market decline is just profit taking as there is no material news to impact it especially after the second quarter earnings season a week before Eid break,” said Iyad Ghulam, senior equity research analyst at Riyadh’s NCB Capital.
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