MIDEAST STOCKS-Saudi falls to six-month low, Qatar at 16-month high | Reuters:
Saudi Arabia’s stock market fell to a six-month low on Thursday, missing out on a wider emerging markets rebound, but Qatar continued rising to a fresh 16-month high.
The MSCI emerging market index was up 1.1 percent but the Saudi index closed 0.6 percent lower at 7,591 points, with losers outnumbering gainers by 107 to 56.
The Saudi market is still up 5 percent year-to-date, far outperforming a 12 percent drop by the emerging market index. But individual investors have been net sellers of Saudi stocks for most of the past several weeks while institutions have become more cautious because of instability in emerging markets and global trade tensions.
No comments:
Post a Comment