MIDEAST STOCKS-Saudi extends losses on emerging market turbulence | Reuters:
Saudi stocks extended losses on Thursday after a 3 percent plunge a day earlier, as investors were rattled by turbulence in emerging markets, while other Gulf markets were mixed with Dubai shares lifted by property stocks.
The Saudi index ended 0.4 percent lower with Saudi Basic Industries dropping 2 percent and refiner Petro Rabigh falling 3.8 percent.
The index is still up 6 percent so far this year but has lost about 7.6 percent in this quarter. Some brokers said the market was ripe for a correction after heavy selling this week.
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