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Saudi Arabia's stock market dived in early trade on Tuesday, the opening day of a three-day investment conference, amid persistent investor concern about global reaction to the killing of journalist Jamal Khashoggi.
The Saudi index fell 1.3 percent at 7,546 points in half an hour, with banks and petrochemical shares the biggest losers.
U.S. President Donald Trump said on Monday that he was still not satisfied with what he has heard from Saudi Arabia about the killing of Khashoggi in Turkey, but did not want to lose investment from Riyadh.
Saudi Arabia on Sunday described the killing of Khashoggi at its Istanbul consulate as a "huge and grave mistake", but said its Crown Prince Mohammed bin Salman (MbS) had not been aware.
Turkey will cooperate with any international investigation probing the death of Saudi journalist Jamal Khashoggi, Foreign Minister Mevlüt Çavuşoğlu said on Tuesday, adding that Ankara had not yet shared any information with any country on the case.The minister stated that Turkey was ready to cooperate in a possible probe into the Khashoggi case at the United Nations, international courts or institutions.Saudi Arabia has been more open to cooperation on the case since the phone call between Turkish President Recep Tayyip Erdoğan and Saudi King Salman on Oct. 15, Çavuşoğlu said.Saudi foreign minister pledges full probe into Khashoggi killingThe minister said that it was "important" that Saudi Arabia acknowledged the killing of Khashoggi, even though it was a late statement.Khashoggi, who was a U.S. resident and strong critic of Saudi’s Crown Prince Salman, was last seen entering the Saudi consulate in Istanbul on Oct. 2.Khashoggi, who was a U.S. resident and strong critic of Saudi’s Crown Prince Salman, was last seen entering the Saudi consulate in Istanbul on Oct. 2.World not satisfied with Saudi explanation on KhashoggiOn the day of his disappearance, 15 other Saudis, including several officials, arrived in Istanbul on two planes and visited the consulate while he was still inside, according to Turkish police sources. All of the identified individuals have since left Turkey.After denying knowledge of Khashoggi's whereabouts for two weeks, Saudi Arabia on Saturday said he was killed during a fight inside its Istanbul consulate.His body has not been recovered, nor has Saudi Arabia explained its shifting narrative on what transpired.Trump said Monday he is "not satisfied" with Saudi Arabia's explanation for Khashoggi's disappearance -- just days after calling it a "great first step".‘No reason’ for month delay in Khashoggi probe: TrumpTurkey-U.S. tiesThe foreign minister stated that steps will be taken in the coming days to lift U.S. sanctions on the justice and interior ministers of Turkey.Ankara’s ties with the U.S. were strained due to Washington’s support of the YPG terror group and their stance on the Fetullah Terrorist Organization (FETÖ), not because of the case of now freed American pastor Andrew Brunson, Çavuşoğlu said.The YPG is the armed wing of the Democratic Union Party (PYD), which is the Syrian offshoot of the PKK. The PKK is listed as a terrorist organization by Turkey, the European Union and the United States.The U.S. needs to cut support for the YPG and fully implement the Manbij roadmap, he added.The Manbij deal between Turkey and the U.S. focuses on the withdrawal of terrorist YPG/PKK forces from the city in Aleppo province, northern Syria to stabilize the region.“Turkey will not allow PKK/YPG to be part of Syrian constitutional committee,” Çavuşoğlu said, adding that Russia was aware that the YPG is a terrorist organization.Two PKK terrorists 'neutralized' in SE TurkeyFM calls Washington to take action against FETÖRegarding FETÖ, Çavuşoğlu called Washington to take action against the terror group, saying that it is “unacceptable” that the U.S. hosts a group that attempted a coup in Turkey. FETÖ terrorists are led by U.S.-based Fetullah Gülen, who orchestrated Turkey's July 15 coup attempt and is the mastermind behind a long-running campaign to overthrow the state through the infiltration of Turkish institutions, particularly the military, police and judiciary. Since the failed coup, operations have been ongoing in the military, police and judiciary as well as in state institutions across the country to arrest suspects with alleged links to FETÖ.
Turkey has not yet shared any information with any country on Khashoggi case: FM
Fresh stock exchange data released on Sunday showed foreigners sold a net 4.01 billion riyals ($1.07 billion) in Saudi stocks in the week ending Oct. 18.
But state-linked Saudi funds have been buying blue-chips in a support operation since the market plunged last week, according to analysts.
Saudi's stock market has lost a little over five percent in value since Oct. 2 because of concerns the Khashoggi case could trigger U.S. sanctions and shrink inflows of foreign investment.
Al Rajhi Bank dropped 2.9 percent and National Commercial Bank lost 3.6 percent.
Saudi Arabia's Foreign Minister Adel al-Jubeir said on Tuesday the kingdom was committed to a thorough and complete investigation to get to the truth behind the killing of journalist Jamal Khashoggi in Turkey.Saudi Arabia had sent a team to Turkey for a joint investigation and "uncovered evidence of a murder" in the Saudi Arabian consulate in Istanbul, the minister told a news conference in Indonesia during a state visit."We expressed commitment ... to see to it that the investigation is thorough and complete and the truth is revealed and those responsible will be held to account," al-Jubeir said at the joint news conference with his Indonesian counterpart.Turkey says will enlighten 'nefarious murder' of Khashoggi"We will see to it ... that procedures and mechanisms are put in place to ensure that something like this can never happen again," he said.Khashoggi, a Washington Post columnist and critic of the Saudi government, disappeared after he entered the consulate in Istanbul on Oct. 2 to obtain documents for his marriage.Saudi Arabia initially denied knowledge of his fate before saying he had been killed in a fight in the consulate, an explanation that has drawn international scepticism.US in 'fact-finding phase' on Khashoggi: KushnerU.S. President Donald Trump spoke with Crown Prince Mohammed bin Salman, the kingdom's de facto ruler on Sunday, but said he was still not satisfied with what he had heard about the killing.Foreign Minister al-Jubeir said 18 people had been detained and six senior government officials had already been dismissed as a result of the investigation.On Monday, al-Jubeir met Indonesian President Joko Widodo who called for a "transparent and thorough" investigation of the killing. French foreign minister says killing of Saudi journalist grave crime
Saudi foreign minister pledges full probe into Khashoggi killing
But Saudi Industrial Export outperformed the market, jumping 9.9 percent after its third-quarter loss narrowed.
Jabal Omar Development also climbed 3.8 percent after posting a third-quarter profit.
The Dubai index inched up 0.1 percent with Emaar Properties adding 0.6 percent and Dubai Islamic Bank increased 0.2 percent.
Gulf Navigation Holding jumped 7.4 percent in heavy trade after Dubai Financial Market said direct deals were executed on 82 million shares of the company for 80.4 million dirhams.
Khashoggi, a columnist for The Washington Post, was last seen at 1:14 p.m. (1014GMT) on Oct. 2, when he entered the Saudi Consulate in Istanbul.After days of denying to know his whereabouts, Saudi Arabia claimed last week Khashoggi died during a fight inside the consulate.On the day of Khashoggi’s disappearance, 15 other Saudis, including several officials, arrived in Istanbul on two planes and visited the consulate while he was still inside, according to Turkish police sources. All of the identified individuals have since left Turkey.A joint Turkish-Saudi team completed an investigation into the case on Thursday after searching the residence of the consul general as well as the Saudi Consulate in Istanbul.CIA Director on way to Turkey for Khashoggi caseJoint statement from UK, Germany, FranceThe U.K., France and Germany on Sunday condemned the killing of Khashoggi in a joint statement.The statement by British Foreign Secretary Jeremy Hunt and his French and German counterparts Jean-Yves Le Drian and Heiko Maas, respectively said the “violent death” of Khashoggi, within the premises of the Saudi Consulate in Istanbul had been feared for many days but its confirmation still comes as a “shock”.“Nothing can justify this killing and we condemn it in the strongest possible terms,” it said.“Yet there remains an urgent need for clarification of exactly what happened on Oct. 2 -- beyond the hypotheses that have been raised so far in the Saudi investigation, which need to be backed by facts to be considered credible,” the statement read.Germany stops arms exports to Saudi ArabiaGermany announced on Sunday that it would stop arms exports to Saudi Arabia amid doubts over Riyadh’s explanation on the killing of Khashoggi.Chancellor Angela Merkel demanded urgent clarification on Khashoggi’s killing, saying: “As far as arms exports are concerned, those can’t take place in the current conditions."Separately, in a joint statement on Saturday, Merkel and Foreign Minister Maas condemned the killing and said Riyadh’s explanation on circumstances surrounding Khashoggi’s death was not sufficient.“We expect from Saudi Arabia to be transparent about the real circumstances surrounding Khashoggi’s death and its background. Those responsible must be brought to justice,” they stressed.‘No reason’ for month delay in Khashoggi probe: TrumpWorld's reactionA senior British Cabinet minister said Sunday that Saudi Arabia's explanation of journalist Jamal Khashoggi's death in their consulate in Istanbul was not credible."I don't think it's credible," Brexit Secretary Dominic Raab said, speaking to BBC. He said there was a "serious question mark over the account that has been given".New Zealand Foreign Affairs Minister Winston Peters and Minister for Trade and Export Growth David Parker in a joint statement on Sunday said: "The New Zealand government continues to condemn in the strongest possible terms the killing of journalist Jamal Khashoggi by Saudi operatives."“The killing by government operatives is deeply disturbing. Many questions remain unanswered,” Peters said.Australian Prime Minister Scott Morrison also condemned the killing of the Saudi journalist. “We deplore the killing of Jamal Khashoggi...We expect the Saudi government to cooperate fully with Turkish authorities regarding the investigation of this matter," he said.The Australian government has also announced it was no longer “appropriate” to attend next week’s Future Investment Initiative in Riyadh.Canadian Foreign Affairs Minister Chrystia Freeland in a statement on Saturday criticized Saudi Arabia's explanation regarding the killing of Khashoggi.“The explanations offered to date lack consistency and credibility,” she said.Spanish Foreign Ministry on Saturday said those who were responsible for the death of Khashoggi have to be brought to justice.Dutch Prime Mnister Mark Rutte on Saturday called for further investigation into the incident, saying: "Thorough investigation is necessary."French Foreign Ministry on Saturday “strongly” condemned the killing of Khashoggi, saying: "Verifying that Khashoggi was killed is the first step towards revealing the truth. Many questions are still unanswered."Danish Prime Minister Lars Lokke Rasmussen said on Saturday that all the facts about the murder of Saudi journalist have not yet been revealed.“The fact that the Saudis last night confirmed that he died, after previously insisting he left the consulate alive, shows that we haven’t been told the full truth," Rasmussen told state broadcaster DR.U.S. President Donald Trump told reporters he thinks Saudi Arabia's explanation was credible, adding he did not think he has been lied to during conversations with Saudi Arabia's senior leaders.Turkish President Recep Tayyip Erdogan and Trump in a Sunday's phone conversation agreed that the Khashoggi case need to be cleared up with all aspects. Reactions from UN, EUUN Secretary-General Antonio Guterres said he was "deeply troubled" by the confirmed death of Khashoggi.Guterres stressed on "the need for a prompt, thorough and transparent investigation into the circumstances of Mr. Khashoggi’s death and full accountability for those responsible," said a UN statement.The EU on Saturday stressed on the need for continued “thorough, credible and transparent” investigation into Khashoggi’s killing.“European Union, like its partners, insists on the need for continued thorough, credible and transparent investigation, shedding proper clarity on the circumstances of the killing and ensuring full accountability of all those responsible for it,” said a statement by the High Representative Federica Mogherini on behalf of the EU.European Parliament President Antonio Tajani said Saturday that an international investigation is urgently needed to examine evidence and clarify circumstances surrounding the death of Khashoggi."Rigorous, international investigation urgently needed to examine evidence, clarify circumstances surrounding death of Jamal Khashoggi," Tajani said in a tweet.The Reporters without Borders (RSF) also on Saturday called for an international pressure to bring to light all aspects of the incident.“After the recognition of #Khashoggi’s death, we expect a determined, constant and powerful pressure to be kept on #Saudi_Arabia in order to get the whole truth on the case and the release of Saudi Arabian journalists that have been condemned to crazy and horrible sentences,” wrote Christophe Deloire, secretary-general of RSF, on Twitter.Amnesty International on Saturday said an independent investigation into the Khashoggi's death was urgently needed."We are shocked and saddened by the dreadful news confirming the death of Jamal Khashoggi inside the Saudi Consulate. The investigation findings by the Saudi authorities claiming that Khashoggi died as a result of a “fist-fight” inside the consulate are not trustworthy and marks an abysmal new low to Saudi Arabia’s human rights record," Samah Hadid, Amnesty International’s Middle East director of campaigns, said in a statement.Turkey to reveal Khashoggi issueErdogan has twice spoken over the phone to Saudi King Salman bin Abdulaziz about Khashoggi since his disapperance.The Turkish president on Sunday said he will make a statement on the killing of Khashoggi on Tuesday."On this issue [Khashoggi’s killing], I will make statements hopefully on Tuesday during the [ruling Justice and Development (AK) Party’s weekly] group meeting," Erdogan said at the opening ceremony of the driverless metro line on the Asian side of Istanbul."Why did these 15 people come here [in Istanbul], why were 18 people arrested [in Saudi Arabia]? These need to be explained in detail," he added.AK Party spokesman Omer Celik said Saturday that Turkey will get to the bottom of the killing of Khashoggi."Turkey will uncover whatever happened. No one should have doubts about that," Celik told reporters in Istanbul.Eyes on Saudi officials' remarksSaudi Minister of Justice Walid bin Mohammed al-Samaani said investigation will take time and it was not certain when it will end.Saudi Arabia’s Foreign Minister Adel al-Jubeir on Sunday claimed Khashoggi was killed inside the Saudi Consulate in Istanbul and the crown prince was "not aware" of it.“The Crown Prince [Mohammed bin Salman] has denied this, he is not aware of this. This was an operation that was a rogue operation,” al-Jubeir told Fox News.He also said that they did not know the details of the killing, and "where the body is".
World not satisfied with Saudi explanation on Khashoggi
Nasdaq-listed DP World fell 1.8 percent after reporting a 6.7 percent drop in its shipping container volumes for the third-quarter.
In Qatar, Qatar Gas Transport added 3.2 percent and Mesaieed Petrochemical gained 1.5 percent. The main index was flat.
U.S. President Donald Trump said Monday there is "no reason" for a one-month delay into Saudi Arabia's investigation into the killing of Washington Post columnist Jamal Khashoggi.Trump added he is "not satisfied" with Saudi Arabia's explanation for Khashoggi just days after calling it a "great first step."After denying knowledge of Khashoggi's whereabouts for two weeks, Saudi Arabia on Saturday admitted Khashoggi was killed during a fight inside its Istanbul consulate.His body has not been recovered, nor has Saudi Arabia explained its shifting narrative on Khashoggi's case.He was last seen entering the the Saudi Consulate in Istanbul Oct. 2.Turkey says will enlighten 'nefarious murder' of KhashoggiSpain, Japan react on killing of Saudi journalistCIA Director on way to Turkey for Khashoggi case
‘No reason’ for month delay in Khashoggi probe: Trump
CIA Director Gina Haspel is en route to Turkey to discuss the case of missing Washington Post columnist Jamal Khashoggi, according to multiple reports Monday.The move comes after U.S. President Donald Trump hinted earlier in the day that America has its top intelligence officials in Turkey and Saudi Arabia to gather the facts surrounding Khashoggi's disappearance."I have a great group of people in Turkey right now and a great group of people in Saudi Arabia. We will know very soon" what happened to Khashoggi, Trump said.The CIA declined to comment on Haspel's reported travel when asked about the matter by Anadolu Agency.Her visit comes as Turkish President Recep Tayyip Erdoğan prepares to announce the initial findings of Ankara's investigation Tuesday and mounting skepticism over the Saudi explanation of what happened to the U.S. resident and Saudi Arabian national.After denying knowledge of Khashoggi's whereabouts for two weeks, Saudi Arabia on Saturday said he was killed during a fight inside its Istanbul consulate.His body has not been recovered, nor has Saudi Arabia explained its shifting narrative on what transpired.Trump said Monday he is "not satisfied" with Saudi Arabia's explanation for Khashoggi's disappearance -- just days after calling it a "great first step".Khashoggi was last seen entering the Saudi consulate in Istanbul on Oct. 2.On the day of his disappearance, 15 other Saudis, including several officials, arrived in Istanbul on two planes and visited the consulate while he was still inside, according to Turkish police sources. All of the identified individuals have since left Turkey.A joint Turkish-Saudi team completed an investigation into the case on Thursday after searching the residence of the Saudi consul general as well as the Saudi consulate in Istanbul.Turkey says will enlighten 'nefarious murder' of KhashoggiUS in 'fact-finding phase' on Khashoggi: KushnerTurkey says Khashoggi murder complicated and 'monstrously planned'Erdoğan says will discuss Khashoggi case with Turkey's ministers on Monday
CIA Director on way to Turkey for Khashoggi case