Saudi Stocks Hit Record Lows as Two Firms, One REIT Slide

Trading volumes on the three names were elevated relative to their daily averages, suggesting active selling rather than passive drift. No corporate announcements from the affected entities accompanied the slide, leaving the move driven by market-wide positioning and sector rotation, traders said.

The REIT component of the trio has been under particular strain as rising interest rates compress yields on income-generating real estate vehicles. Saudi REITs have broadly underperformed the equity benchmark this year, with the sector index down more than 10% year-to-date.

Argaam did not specify the exact percentage declines or the names of the affected securities in its initial report. Further details on the session's lows and year-to-date performance are expected in subsequent filings.