MIDEAST STOCKS-Saudi stock index slips to 8-month low amid slowing economy - Reuters:
Saudi Arabia's stock market fell to an
eight-month low on Wednesday as a slowing economy prompted
investors to pull most shares down from lofty valuations.
The Saudi index closed 1.4% down with 163 of its
stocks falling and 19 rising.
Blue-chip stocks were the biggest drag on the index. Lenders
National Commercial Bank and Al Rajhi Bank
shed 2.7% and 1.2% respectively, while petrochemical maker Saudi
Basic Industries lost 2.2%.
The index fell as much as 2.5% during the session, wiping
out all its gains this year before clawing back some losses to
close just 0.4% up year-to-date.
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