MIDEAST STOCKS-Saudi opening may be non-event with no licences awarded yet | Reuters:
"The opening of Saudi Arabia's stock market to direct foreign investment on Monday may disappoint traders who have been hoping for large and immediate fund inflows, as the kingdom has yet to announce the award of any licences.
Saudi Arabia's Capital Market Authority announced plans to open the market last July, and bullish expectations have helped the kingdom's stock index outperform other Gulf markets by a wide margin. It has gained 15.7 percent this year.
But the CMA has indicated it does not want or expect large, sudden fund inflows. It has introduced tight ceilings for foreign investment and a licensing system for institutions; as of early Monday morning, it has not announced the issue of a single licence."
'via Blog this'
No comments:
Post a Comment