MIDEAST STOCKS-Global economy worries weigh on most of Gulf, #Kuwait outperforms on MSCI upgrade - Reuters

MIDEAST STOCKS-Global economy worries weigh on most of Gulf, Kuwait outperforms on MSCI upgrade - Reuters:

Most major Gulf stock markets slipped on Wednesday, in line with global equities amid concerns about a slowdown in the world economy, but Kuwait continued to rally in the wake of MSCI’s decision to upgrade Kuwaiti equities to its main emerging markets index.

The Saudi index was down 0.1% after snapping a five-day winning streak in the previous session, with Yanbu National Petrochemical falling 2.7% and Saudi Telecom down 0.8%.

The index is still up 12.8% this year, led by foreign investors. Saudi exchange data released on Monday showed foreigners bought a net 16.16 billion riyals’ ($4.3 billion) worth of Saudi stocks last month.