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Saudi Stock Exchange sheds another one percent

Thin Trading and a general bearish moodd triggered by sluggish oil prices dragged the Tadawul All-Share Index down by 0.98% to 7,377.61 points. The world's largest petrochemicals producer Sabic fell below SR100, closing off 1.72% at SR99.75. Shares of Red Sea Housing Services Company (down 0.60% at SR33.50). Earlier in the day, Red Sea Housing announced that it will distribute the proceeds form the sale of shares fractions from the bonus shares issue to its entitled shareholders starting from May 15 2012, as per the approval on April 18 2012.