MIDEAST STOCKS-Global woes weigh on Saudi stocks as they join MSCI index - Reuters:
Saudi Arabia’s stock market slipped on Wednesday as weak global sentiment clouded the first day of trading for the market as a new member of the MSCI emerging markets index. Most other Gulf markets also dropped.
Thirty Saudi-listed securities were added to the index after the market close on Tuesday, representing an aggregate weight of 1.42% in the MSCI Emerging Markets Index.
Saudi’s index fell 1.6%, weighed down by financial stocks, with Al Rajhi Bank decreasing 1.9% and Banque Saudi Fransi sliding 4.6%.
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