Saudi valuations not too cheap at current levels | GulfNews.com:
"Valuations of companies in Saudi Arabia, which is slated to open up for foreign investors in June, are not too cheap, and that could trigger a more prudent and cautious approach from investors, a top official at Emirates Investment Bank, a leading asset manager, told Gulf News.
The Capital Markets Authority (CMA) is planning to allow in foreign investors from June 15, a move closely watched by the global fraternity, as the world’s biggest exporter of petroleum gives access to own shares of Saudi Basic Industries and National Commercial Bank.
The Saudi Tadawul index has been the best performer in the region, with gains of more than 18 per cent so far this year, compared to Dubai index, which gained 13 per cent."
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