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» The Saudi stock market got engulfed in the
downward rush in the global equity markets
triggered by the prevailing financial crisis.
The Saudi stock market lost 52.6% of
its capitalization in 2008 despite 16 new
listings.
» Petro-chemical industry lost 66.1% while
the banking sector lost 53.1% in 2008
which pulled the index down. The market
capitalization, including the new listings,
stood at US$246bn at December 31, 2008
compared to US$519bn at the start of the
year.
» Telecommunication sector, the third largest
constituent of the index, accounting for 14.4%
of total market capitalization, witnessed a
decline of 36.0% in 2008.
Global Investment House
Tadawul All Share Index Performance
12,000
11,000
10,000
9,000
8,000
7,000
6,000
5,000
4,000
Source: Tadawul & Global Research
Market Cap (US$ bn)
Stock Market
1-Jan-08
22-Jan-08
12-Feb-08
04-Mar-08
25-Mar-08
15-Apr-08
06-May-08
27-May-08
17-Jun-08
08-Jul08
29-Jul-08
19-Aug-08
09-Sep-08
30-Sep-08
21-Oct-08
11-Nov-08
02-Dec-08
23-Dec-08
700
600
500
400
300
200
100
0
2003 2004 2005 2006 2007 2008
Source: Tadawul & Global Research
68 Saudi Arabia Economic Overview - January 2009