Shares in Kingdom Holding, 95 percent of which is owned by billionaire Prince Al-Waleed bin Talal, dived 9.9 percent as the Saudi stock exchange opened Sunday after reports of his arrest. The Saudi Tadawul All-Shares Index (TASI) also dropped 1.6 percent only a minute after the start of trading on the Arab world's largest stock market following a sweeping crackdown on corruption that saw the arrest of leading royals and businessmen. The Kingdom Holding share price did not slide further because, under the rules of the Saudi exchange, stocks are only allowed to fall a maximum of 10 percent in a single trading session.
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