As Saudi Arabian stocks soared to new highs in April, speculation mounted that the government would finally throw the doors open to foreign capital.
As quickly as the rally surged, however, it faltered.
This month, the Tadawul All-Share Index, long the darling of the Middle East's equity market landscape, hovers around the upper-6,000s mark, with the 7,930.58 high recorded on April 3 a distant memory. There is yet to be any solid news on a policy change over stock-exchange reform. The bulls - who in the spring were hinting the Tadawul could hit 10,000 - could well have bucked too soon.
The value of various good company stocks are fluctuating and economy is also not stable these days. I hope in the coming days everything will be stable.
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