Foreigners Splurged on Saudi Stocks in March - Bloomberg:
"Foreign investors bought more Saudi stocks in March than ever before in anticipation of the kingdom’s upgrade to emerging-market status. Overseas investors spent a net 3.6 billion riyals ($960 million) last month on shares traded on the Tadawul, the Saudi stock exchange, according to data provided by the bourse. That’s the most in a single month since the Tadawul started disclosing the data in August 2015. Foreign investors have been net buyers of Saudi shares every week since the start of 2018 amid speculation the biggest Middle Eastern economy would earn emerging market classification from major index operators, which could drive billions in inflows from investors tracking these benchmarks. FTSE Russell granted that status to Saudi Arabia last week, with implementation starting in one year. MSCI Inc. is expected to make a decision in June."
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