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Saudi Stock Exchange Gains Jump 17.5% Since Beginning of 2019

Saudi Stock Exchange Gains Jump 17.5% Since Beginning of 2019

Saturday, 20 April, 2019 - 13:00
Faisal Al Nasser / Reuters
Riyadh- Shujaa al-Bogmi
Saudi stock exchange gains jumped 17.5 percent since the beginning of the year, making it one of the world's most profitable stock markets in the first months of 2019.

In this regard, foreign investors continued to purchase in the Saudi stock market, as the latest statistics from the Saudi Stock Exchange (Tadawul) revealed that the foreign investors' share rose to 5.48% and that net foreign investors' liquidity reached 7.8% in favor of orders (purchase).

This new rise in foreign investment towards the Saudi stocks market represents an important indication of the high reliability of the country's financial market and reflects confidence in the strength and vitality of the Saudi economy.

In this context, the Saudi exchange index closed this week at a rise of around 109 points, at a level of 9,197 points compared to 9,088 points. It continued to rise for the sixth week in a row. Trading value witnessed a remarkable growth of SAR16.73 billion (USD4.46 billion) compared to around SAR15.53 billion (USD4.14 billion) in the past week.

The report by Tadawul, issued on Sunday, showed the rise of Gulf investors possession in the Saudi shares market to 2.04 percent.

In 2018, the Saudi listed companies recorded positive growth in profits up to SAR105.3 billion (USD28.08 billion).

Inclusion of Saudi Arabia into the S&P Dow Jones Emerging Market and FTSE Russell indices was an acknowledgment of the investors' continuous confidence in the market, which reflects the success of reforms and enhancements accomplished in tandem with Saudi Vision 2030 and the Financial Sector Development Program.

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