Mideast funds more wary on Saudi after market surge, bullish on Egypt | ZAWYA MENA Edition:
"Middle East fund managers have become more cautious about ploughing additional money into Saudi Arabian equities after the market jumped on expectations that it would be included in global indexes, a monthly Reuters poll showed on Thursday. The Saudi stock index has rocketed over 9 percent so far this year on widespread expectations that FTSE Russell would decide this month to add Riyadh to its secondary emerging market index, and that MSCI would make a similar decision in June. FTSE decided in favour of Saudi Arabia on Wednesday night, and many fund managers are positive on the kingdom's long-term outlook because of economic reforms now underway."
'via Blog this'
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