Foreign selling of Saudi stocks slows in week to November 1 | ZAWYA MENA Edition

Foreign selling of Saudi stocks slows in week to November 1 | ZAWYA MENA Edition:

Foreigners sold a net 89.2 million riyals ($23.8 million) in the Saudi stock market in the week ended Nov. 1, a sharp drop from the previous two weeks when investor worries over the impact of journalist Jamal Khashoggi's killing prompted heavy selling.

The foreign selling slowed from 2.34 billion riyals in the previous week and a record 4.01 billion riyals the week before when Khashoggi's killing caused concern about the effects on the kingdom's relations with foreign powers. 

The reduction in selling signalled that many managers are still optimistic about expected inflows into Saudi Arabia of about $15 billion of "passive" funds next year, when the market joins emerging market indexes.