October 22, 2018 / 7:25 AM / 25 days ago

MIDEAST STOCKS-Saudi index drops 1.2 pct in early trade after foreign selloff

DUBAI, Oct 22 (Reuters) - Saudi Arabia’s stock index was down 1.2 percent in early trading on Monday, as fresh data showed heavy foreign selling last week amid investor concerns about the global reaction to the death of Saudi dissident Jamal Khashoggi at a Saudi consulate in Istanbul.

The latest stock exchange data released on Sunday showed foreigners sold a net 4.01 billion riyals ($1.07 billion) in Saudi stocks in the week ending Oct. 18 in one of the biggest selloffs since the market opened to direct foreign buying in mid-2015.

The Saudi index was down 1.2 percent at 7,571 points in early trade. Most Gulf markets were trading higher with the Dubai index up 0.9 percent and Qatar index trading 0.3 percent higher. ($1 = 3.7518 riyals) (Reporting By Saeed Azhar; Editing by Davide Barbuscia)

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