MIDEAST STOCKS-Saudi hurt by petrochemicals, most of Gulf moves little | Reuters:
Saudi Arabia’s stock market edged down in early trade on Wednesday, pressured by petrochemical shares, while most major Gulf markets were little changed.
The Saudi index was down 0.3 percent after an hour with heavyweight Saudi Basic Industries dropping 1.4 percent and Saudi Kayan Petrochemical losing 2.7 percent.
Saudi Industrial Export dived 9.9 percent; it has been plunging for the past six days, after a speculative bubble in the stock pushed it up over 200 percent since early October.
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