Saudi shares drop as oil falls on China concern
Riyadh - Arabstoday
Shares in Saudi Arabia fell the most in more than two weeks yesterday as crude declined on concern over demand from China and as tension simmered on Iran's naval exercises in the Strait of Hormuz. The Tadawul All Share Index lost as much as 0.5 per cent to 6,388.88 in Riyadh. Saudi Basic Industries Corp fell 0.3 per cent. "Some investors are booking profit and focusing on the geopolitical news," said Samer Darwiche, an equity analyst at Gulfmena Investment in Dubai.
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