UPDATE 1-MIDEAST STOCKS-Saudi hits 6-month low, Egypt slips on emerging market woes | Reuters:
Saudi Arabian shares closed at a new six-month low on Sunday, and stocks in Dubai and Egypt also fell sharply as risk aversion continued to spread across emerging markets.
The Egyptian index fell by 3.4 percent to end at 14,796, its lowest close since Feb. 13.
Radwa El-Swaify, head of research at Pharos, said news of the seizure of assets of some Muslim Brotherhood leaders and an arrest order on former President Hosni Mubrak’s sons Alaa and Gamal on charges of stock market manipulation, as well as concern about the Egyptian pound, had hurt the market.
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