Lower oil prices and profit taking triggered the Tadawul All Share index (TASI) to fall by 1.35% to 6,363.55 points. Petrochemical shares in particular weighed on the market. Market bellwether Sabic closed at SR91.75 (off 3.42%). Credit Suisse Research warned on Sunday that the recent price increase in oil might be halted at the technical resistance level of $77 per barrel. Beijing's decision to de-peg the as undervalued considered Yuan (against the Dollar) triggered a rally in Riyadh at the start of the week because the Saudi Riyal is pegged to the greenback, and a stronger Yuan would mean a higher export value for the GCC to China. Ann Wyman, Managing Director and Head of Emerging Marker Research at Nomura Saudi Arabia however told AME Info that the GCC is only indirectly affected by the Yuan re-valuation. Ann Wyman: "In relation to trade, while a modest appreciation of the Yuan against the USD would help export competitiveness on the margin, the move is not likely to be large enough to result in any major shifts in export performance in the region." Wyman added that, "while some may draw an analogy of currency flexibility in China with the Middle East, we still see no scope for movement on currency pegs in the region. Inflation remains low, and there are limited pressures for revaluation in any countries."