Tadawul Drops 7%
World Economy

Tadawul Drops 7%

The Saudi stock market plunged nearly 7% in relentless selling sparked by falling oil prices and a decision by Fitch Ratings to cut its outlook for Saudi Arabia’s debt. The Tadawul All-Share Index lost 6.86% to close at 7,463.32 points, nearing support on its December low of 7,226 points. That brought its losses so far in August to 18%—a drop that has erased some $75 billion of market value, Reuters reported. Mohamed Ramady, professor of finance and economics at King Fahd University of Petroleum and Minerals, said: “Unfortunately the Tadawul will continue to be lethargic and might close at around the 6,800-7,000 levels by year end if oil prices do not modestly rebound and signs of a Chinese recovery are seen.


Short URL : https://goo.gl/xSX061
  1. https://goo.gl/Q6I4EL
  • https://goo.gl/yMW4tz
  • https://goo.gl/TZz2uN
  • https://goo.gl/CKOvk0
  • https://goo.gl/qxwd9c

You can also read ...

Members discuss policies, regulation and flexibility to  help improve infrastructure.
Experts from APEC member economies spoke about the need to...
China Eyes SE Asia Investments
Companies from the world’s second-biggest economy are...
South Korea Business Groups’ Investment Rises 28%
South Korea’s top 30 conglomerates increased their investment...
Romania leads the pack in economic growth. The picture shows tires being inspected during production  at the Continental plant in Timisoara.
Economies in most of the European Union’s eastern wing...
Project awards in Bahrain plunged 84%.
Contracts awarded to build economic projects in the Persian...
Australia Economy Grows  With Strong Jobs Report
The strength of the Australian economy has been impressive of...
Infosys is Asia’s No.2 software services developer.
Infosys Ltd. approved a 130 billion rupees ($2 billion) share...
India’s Finished Steel Exports Surge 64%
Finished steel export jumped by 64.2% to 0.770 million ton in...