MIDEAST STOCKS-Saudi leads Gulf up as foreign investor limits eased | Reuters:
"Saudi Arabia led Gulf stocks higher on Sunday as Riyadh eased restrictions on foreign investment in its securities markets, while most other bourses in the region were buoyed by strength in oil prices and global equities at the end of last week.
As previously announced, the Saudi Capital Market Authority lowered minimum qualifications for foreign institutional investors in its markets and raised ceilings on foreign ownership in stocks.
The reforms are not expected to cause a sudden surge of new foreign money into the kingdom; actual foreign ownership of stocks is well below the previous ceilings. Many investors remain deterred by less-than-attractive valuations and a sharp economic slowdown caused by low oil prices."
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