Mideast Stocks: Most of Gulf markets decline on coronavirus fears | ZAWYA MENA Edition:
Most major stock markets in the Gulf ended lower on Thursday, led by financial stocks, on concerns over the economic fallout from the coronavirus that has spread to nearly 80 countries and territories and killed more than 3,000 people.
Saudi Arabia's benchmark index reversed early gains to close 0.8% down, with all its banking shares trading lower.
Tourism-related firm Jabal Omar Development was the biggest drag on the index, which sank 4.4%, while Al Rajhi Bank was down 0.5%.
Saudi Arabia extended suspension of Umrah pilgrimages by foreigners to also include Saudi citizens and residents due to concerns about the new coronavirus, state news agency SPA reported.
Saudi Arabia, Kuwait, and the United Arab Emirates (UAE) also halted the use of Gulf Cooperation Council cards for transit between the six member states, instead mandating passports, which can reveal more about previous travel.
No comments:
Post a Comment