MIDEAST STOCKS-DIB supports Dubai as most Gulf markets fall - Agricultural Commodities - Reuters:
Most Gulf stock markets extended the
previous session's losses on Wednesday following a rebalancing
of MSCI's benchmark emerging market index, but gains in Dubai
Islamic Bank helped Dubai rebound.
Global index provider MSCI on Tuesday completed an increase
in the weighting of mainland Chinese stocks, or A shares, in its
widely followed emerging markets benchmark. Most Gulf
stock indexes slipped into negative territory after that as
passive investors withdrew funds from the region, which now
accounts for a smaller portion of the index.
The benchmark Saudi index led the losses and
declined by a further 0.3% on Wednesday with financials leading
the way. Al Rajhi Bank and Saudi British Bank
were down 1% and 3.4% respectively.
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