Efter sol kommer regn.
The stock market has been the news that people in the Kingdom have been following closely of late. The market is the favorite territory for the big sharks, and a place of bountiful dreams for the little fish. It provides hope for those seeking more wealth.
Some Saudis have liquidated equity ? family homes and properties ? to invest in the market. Others have taken out loans. Many of these people thought they knew what they were doing. Others didnt care; they thought they knew just enough about the little red and green arrows on the web page of their portfolio to make money. When the arrows were green, people were all smiles. When they were red, people were angry.
Look beyond what you see!
The Saudi stock market dived 8.3 percent yesterday in panic selling following Sundays suspension of two dealers by the Capital Market Authority (CMA) for manipulating the stocks of three companies.
The decline was the sharpest by any Gulf Arab market since March 14 when bourses plunged across the worlds biggest oil-exporting region.
Gulf stock markets appeared to have recovered from that downturn until yesterdays evening session on the regions largest bourse.
The Saudi stock market continued to plunge yesterday. The Tadawul All-Share Index (TASI) dropped 968.30 points or 6.01 percent to close yesterday at 15,130.76. The index, which went below 15,000 mark during the day, lost 2,426.26 points in two days of trading.
Look beyond what you see!
UAE shares suffered sharp losses yesterday, hurt by a sell-off in neighbouring Saudi Arabia and expectations of poor results from market heavyweight Emaar Properties, analysts said.
The Dubai Financial Market index fell 2.64 per cent to 698.26 points in average trade worth Dh1.57 billion. Losers were ahead of gainers 17 to 4.
Abu Dhabi stocks fell 1.79 per cent to 4,453.60 in average trade of Dh213.4 million. Losers beat gainers 30 to 9.
Look beyond what you see!
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History repeats itself