“Foreign investors sold the most Saudi Arabian stocks in almost five months last week as concerns about economic growth and a disappointing outlook for banks in the kingdom hit sentiment. Outflows reached 6.5 billion riyals ($1.7 billion) in the week through Aug. 3 as the benchmark Tadawul All Share Index slumped 4%. That resulted in the largest net exit by non-residents and worst performance by the local market since March, when global equities were in the grips of a crisis over the health of US banks.”

–Farah Elbahrawy, writing in Bloomberg, Foreigners Flee Saudi Stocks as Growth Worries Interrupt Rally. [Bloomberg]