MIDEAST STOCKS-Gulf stocks slide as MSCI rebalancing prompts passive fund outflows - Reuters:
Gulf stock markets fell on Tuesday, with
the Saudi index leading the losses after MSCI rebalancing that
triggered passive fund outflows, while Egyptian stocks also came
under pressure.
Saudi Arabia's benchmark index slid 1.7%, dragged
down by a 3.3% drop in Al Rajhi Bank and a 4% plunge
in National Commercial Bank.
Among other stocks, Saudi Basic Industries and
Savola Group eased 3% and 5.6% respectively.
Global index provider MSCI on Tuesday implemented the final
step of the weight increase of mainland Chinese stocks, or A
shares, in its widely followed emerging markets benchmark
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