Saudi Plot Set to Twist in Stock Market's Tale of Two Halves - Bloomberg:
For Saudi equities, 2019 may be a story of two halves.
The kingdom’s stocks are set to rally in coming months as billions of dollars gush into the market on its inclusion in benchmarks for developing-nations. But that may give way to selling before Ramadan, the month of fasting which will begin in May, as concerns over reforms and oil move back to the forefront, according to Nomura Asset Management.
It will be “a positive first half and a potentially negative second half,” said Tarek Fadlallah, the chief executive officer of the Middle East unit of Tokyo-based Nomura Asset, which oversaw $485 billion globally as of end-September.
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