Foreigners sold net $624 mln of Saudi stocks in week to Oct. 25 | Reuters

Foreigners sold net $624 mln of Saudi stocks in week to Oct. 25 | Reuters:

Foreigners sold a net 2.34 billion riyals ($624 million) in the Saudi stock market in the week ending Oct. 25, but the bourse was supported by local institutions which bought 8.06 billion riyals worth of stocks, stock exchange data showed.

The foreign selling slowed from a record 4.01 billion riyals in Saudi stocks in the previous week when investors were jolted by the kingdom’s deteriorating relations with foreign powers following the killing of journalist Jamal Khashoggi.

The data did not break down the names of Saudi institutions supporting the market, but Reuters reported last week that the Public Investment Fund has been indirectly supporting local stocks, using local institutions, to limit a market crash caused by the killing of Khashoggi.