Saudi stocks dive to almost 5-year low.

Byline: Khalil Hanware

(Category: Business)

JEDDAH: The Saudi stock market plunged to almost five-year low yesterday as fears over the health of the global economy continued to haunt the bourse. The Tadawul All-Share Index (TASI), which declined 9.84 percent last week, likely to fall to below 5,000 mark this week as it closed 7.4 percent or 405.64 points down at 5,079.54 yesterday, its lowest level since March 2004.

The index is down 53.98 percent so far this year. It fell 25.8 percent in October. Out of 125 stocks traded, only seven companies showed positive performance, while 117 companies were in the red. Shares worth SR4.30 billion changed hands …