SABIC helps Saudi market index to stabilise

June 10, 2014 5:49 pm

Riyadh-based Tadawul All-Share Index (TASI) gained 0.14 per cent to close at 9,905.68 points on Tuesday, June 10, albeit market breadth was negative, as 60 shares advanced, while 85 stocks declined in value. SABIC, as the third most liquid share, recovered another 0.10 per cent to hit SAR117.50. Two weeks ago, the world’s biggest manufacturer of petrochemicals revealed that it has entered into a 50-50 joint venture with Korean petrochemical company, SK Global Chemical, worth $595 million by self-financing. Ash-Sharqiyah Development Company fell by 0.51 per cent to SAR83.25 as the most liquid share.

Gérard Al-Fil