Mideast Stocks: Saudi eases back from multi-year closing high | ZAWYA MENA Edition:
Saudi Arabia's stock index edged down on Tuesday after closing at a near-four year high on Monday, which was its first day as a member of FTSE Russell's emerging-market index. Most other major Middle Eastern markets were mixed in muted trading.
Saudi's Tadawul index will have a weighting of 2.9 percent in the FTSE Emerging All Cap Index and later this year will join the MSCI emerging market benchmark. The market is positioned for passive fund inflows of around $20 billion.
Saudi Arabia's listed companies could see holdings by foreign investors rise to 10 percent when shares are included in index providers MSCI and FTSE's emerging markets indices, Tadawul's Chief Executive told Reuters.
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