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Article: Uncertainty haunts Saudi stock market.
- Article from:
- Arab News (Jeddah, Saudi Arabia)
- Article date:
- November 29, 2008
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Byline: Khalil Hanware
(Category: Business)
JEDDAH/AMMAN: The Saudi stock market suffered its deepest fall last week as uncertainty, speculation and lack of transparency were cited by analysts as the main reasons for the plunge.
The Tadawul All-Share Index (TASI) plummeted further 9.35 percent last week, closing at 4,424.23 points, led by the petrochemical and banking sectors.
The Bakheet Investment Group (BIG) said in its weekly report that TASI witnessed on Saturday and Sunday a sharp drop of 10 percent and 4 percent respectively as a result of massive selling and margin calls following the volatile moves by the global markets on the ...