S&P Dow Jones to upgrade Saudi stocks to emerging market next year | Reuters

S&P Dow Jones to upgrade Saudi stocks to emerging market next year | Reuters:

Global equity index compiler S&P Dow Jones Indices will upgrade Saudi Arabia’s bourse to emerging market status from a stand-alone market next year, becoming the latest in a series of index firms to promote Riyadh.

S&P Dow Jones will add major Saudi stocks to its global indexes with a 50 percent weighting in March 2019 and raise their weightings to 100 percent in September, the company said in a statement late on Tuesday.

The company had been considering a Saudi upgrade for several years but decided against one last year because of limited market access for foreign investors.