Foreigners turn net sellers of Saudi equities for first time this year | Reuters:
"Foreign investors turned net sellers of Saudi Arabian stocks last week for the first time this year, exchange data showed on Sunday, as fund managers became increasingly concerned about rich valuations.
Foreign portfolio funds have been flooding into the kingdom ahead of Riyadh’s expected inclusion in global emerging market indexes next year. In the week through April 19, foreigners bought a net $384 million of equities, a record sum.
In the week through last Thursday, however, foreigners were net sellers to the tune of $48 million, the data showed. They bought $313 million and sold $361 million."
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