Stock markets across the Middle East fell on Sunday after oil prices dropped again and Saudi Arabia, heavily influenced by the petrochemicals sector, led losses, hitting a four-month low.
The main Saudi index sank 3.2 per cent to
Growth at China's big manufacturing companies unexpectedly stalled in July as demand at home and abroad weakened, an official survey showed on Saturday, reinforcing views that the economy needs more stimulus as it faces fresh risks from a st
Oil prices fell to near four-month lows on Monday after a steep drop in Chinese stock markets and on more evidence of a global oil supply glut that has halved prices over the past year.
Chinese stocks tumbled more than 8 per cent
Chinese shares tumbled more than 8 per cent on Monday amid renewed fears about the outlook for the world's No 2 economy, reviving the spectre of a full-blown market crash that prompted unprecedented government intervention earlier this month
US stocks added to a global selloff on Monday as Greece veered toward a default on its 1.6 billon euro ($1.7 billion) debt.
Greece will not pay a loan installment due the International Monetary Fund on Tuesday, a Greek government
Gulf stock markets fell in early trade on Sunday after militant attacks in Kuwait and Tunisia killed a total of 66 people last week, and because of concern about the Greek debt crisis.
The main Dubai stock Index sank 1.8 per cent.
Saudi Arabia's bourse rose on Sunday ahead of its opening to direct foreign investment, though it remained unclear if any foreign funds would be able to buy local shares when the new regulations take effect on Monday.
The opening of Saudi Arabia's bourse to direct foreign investment may create billions of dollars of business but international banks and fund managers are cautious about expanding their operations in the kingdom.
Shares in five listed Saudi Arabian companies will not be open to investment by foreigners when the market permits direct stock purchases by foreign institutions this month, according to the stock exchange's website.
Most Gulf stock markets slipped on Sunday after oil prices fell, while Egyptian equities extended gains following the delay of an unpopular capital gains tax.
Brent oil fell $1.17, or 1.8 per cent, to $65.37 a barrel on Friday, de