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Bernanke's QE3 action boosts Saudi Stock Exchange
- Saudi Arabia: Saturday, September 15 - 2012 at 17:35
The Tadawul All-Share Index started the 2nd week of trading in September with a gain of 0.90%, closing at 7,165.86 Saturday. U. S. Fed chairman Ben Bernanke said Thursday, the central bank would launch Quantitative Easing 3 (QE 3) by buying mortgage-backed securities worth $40bn every month in order to stimulate the world's largest economy. In Riyadh, shares of Saudi Basic Industries Corp. or Sabic jumped 2.70% to reach SR95, the highest level since May this year. A whopping 117 out of 154 traded securities advanced, while 22 stocks declined in value.
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Gérard Al-Fil, Financial JournalistSaturday, September 15 - 2012 at 17:35 UAE local time (GMT+4)
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This article was updated on Sun Sep 16 2012.
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