An investor walks past a screen displaying stock information at the Saudi Stock Exchange in Riyadh, Saudi Arabia. Picture: REUTERS
Tadawul is the Middle East’s largest exchange and Saudi Arabia’s main exchange. It has a total market capitalisation of about $541.3bn, with a free float of about 40%. Khalid al-Hussan said he expected equities on Tadawul to attract $5bn of passive fund inflows after the FTSE Russell inclusion. Foreign investors currently hold 5.9% of Saudi shares.
Foreigners have been net buyers of Saudi stocks since the start of the year, ploughing more than $2.1bn year-to-date into the Saudi market. The Saudi index is up nearly 9.6%, outperforming its Gulf peers.
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