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Article: Saudi Arabia: World Markets Put Pressure on Saudi Stocks.
- Article from:
- TendersInfo
- Article date:
- March 24, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: mayur03
The Saudi stock market extended losses for the fourth week in a row last week, with investors coming under mounting pressures from world markets and reports of imminent US stagnation.
The Tadawul All-Share Index (TASI) shed 4.07 percent last week, closing at 9,488.85 points from 9,891.80 points previous week. TASI is currently 15.1 percent lower than the year s start.
The weekly report of the Riyadh-based Bakheet Investment Group (BIG) described the decline at the Saudi stock exchange as unjustified and expected the market to get into a steady mood until the release of the first quarter results, which it expected to boost the ...