0905 GMT [Zawya Dow Jones]--The Saudi index dips below 8100 in early trading Sunday as big investors continue a sell off before the market regulator implements a new disclosure law. The index is down 12% since July 26. "If you go back two years you can see a positive correlation between the market's downward trend and an announcement from the CMA," says Kashif Zia, a banker at Abu Dhabi-based The National Investor. "Every time there is a stringent measure introduced, this is what happens." Zia says the index could dip below 8000 and may not recover until October. (MAS)
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(END) Dow Jones Newswires
August 10, 2008 05:05 ET (09:05 GMT)
