Saudi Arabia’s stock market dropped on Tuesday to lead the fall in the Gulf, despite an above estimated 9.9 percent growth in the gross domestic product in the first quarter, according to official data.
On a different note, credit rating agency Moody’s affirmed the Kingdom's rating at ‘A’ with a stable outlook, primarily driven by the government’s fiscal policy effectiveness.
The main TASI index ended its three-day winning streak to close 1.24 percent lower at 12,662 and the parallel market Nomu declined nearly 1 percent to 22,329.
Fellow stock exchanges including Abu Dhabi, Dubai, Qatar, Oman, and Kuwait all recorded losses, ranging from 0.1 to 0.5 percent, while Bahrain’s BAX lost 1.22 percent.
Read More : https://www.arabnews.com/node/2099121/business-economy
Comments