Saudi Arabia's Stock Market fell in early trade on Wednesday, despite the rise in oil prices after the Yemeni Houthis attacked city in the Kingdom for the first time.
The main index of the Saudi market fell 0.1 percent with drop of two leading shares: Saudi Basic Industries Corporation (SABIC) and Saudi Telecom 0.9 and 2.8 percent respectively.
Houthi fighters launched an attack with mortars and rockets on Saudi border city on Tuesday for the first time since the start of the military campaign led by the Kingdom against them in late March.
The attack came after a statement from Riyadh to ensure that Saudi Arabia was considering a cease-fire to allow humanitarian assistance and call from Yemeni President Abed Rabbo Mansour Hadi from his exile in Saudi Arabia for talks between the political factions in Yemen.
And Saudi Capital Market Authority announced this week to proceed with the imposition of strict rules on direct foreign investment in the stock market and perhaps that disappointed investors who had hoped to see the huge flows at the opening of the market before the first wave of foreign funds next month.
Egypt Stock Exchange turned its ascending course in the opening minutes of transactions on Wednesday to decline amid selling processes by local individuals for profit-taking after a strong ascending during the previous two sessions.
The main index fell 0.44 percent to reach to 8789.2 points and the secondary index 0.11 percent to reach to 473.3 points.
The turnover values reached to 118.945 million pounds.
Arab and foreign transactions tended to purchase while the Egyptians transactions tended to sales and institutions accounted for 22 percent of transactions so far.
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