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    Saudi stocks rebound strongly after rate cut

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    08.10.2008 - 16:49 | Son Güncelleme:

    Saudi stocks rebound strongly after rate cut

    RIYADH, Oct 8, 2008 (AFP) - The stock market in Saudi Arabia rebounded strongly just before the close of trade on Wednesday, eradicating most of the days earlier losses following a coordinated international rate cut.
    With less than half an hour to the close, the Tadawul All-Shares Index (TASI) was down 1.6 percent after it shed more than eight percent in early trading.
    The rebound came after several international central banks announced a coordinated interest rate cut of 0.5 percentage points. Such measures are normally followed by the Saudi monetary authorities.
    The Saudi market is the largest in the Arab world.
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    AFP 081217 GMT OCT 08
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