Heavy flows into Saudi to continue, Mideast funds say | Reuters:
"Middle East fund managers intend to pump more money into Saudi Arabian equities in coming months, despite concern about rich valuations, because of Riyadh’s expected entry into emerging market indexes next year, a Reuters poll showed on Monday. Foreign investors turned net sellers of Saudi stocks last week for the first time this year, according to exchange data. The Saudi stock index .TASI is up 13.8 percent this year, trading at over 16 times corporate earnings - higher than most other emerging markets. But the monthly poll of 13 leading regional fund managers, conducted over the past week, showed they believe capital inflows into the kingdom are unlikely to slow significantly."
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