Saudi Shares Drop as Oil Falls on China Concern; Sabic Retreats
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Shares in Saudi Arabia, the world’s biggest oil exporter, fell as crude declined on concern over demand from China and tension simmered on Iran’s naval exercises in the Strait of Hormuz.
The Tadawul All Share Index lost less than 0.01 percent to 6,417.73 at the 3:30 p.m. close in Riyadh, after falling the most in more than two weeks. Saudi Basic Industries Corp., the world’s biggest petrochemicals maker, retreated 0.8 percent.