Saudi market down at week's opening

In initial exchanges, the Tadawul All-Shares Index (TASI) was trading at 6,675.45 points, down 2.73 percent on last weeks close on Wednesday, pulled down by the leading banking and petrochemicals sectors.

The Saudi bourse recovered initial losses by the end of last week, ending the week up 11.4 percent.

The Saudi stock market is open from Saturday until Wednesday, while other markets in the oil-rich Gulf region operate from Sunday until Thursday.

The latest fall followed modest losses on Wall Street on Friday as U.S. investors remained cautious about whether the hundreds of billions of dollars being injected into banks by U.S. and European governments will be enough to stabilize financial markets.