Saudi Share Trading Set to Jump on MSCI as Trade Woes Dominate - Bloomberg:
It’s set to be a busy week for Saudi stocks, with volumes likely to surge as index compiler MSCI Inc. completes the country’s promotion to an emerging market just as trade tensions dominate investor sentiment.
Saudi Arabia’s weighting on the New York-based company’s MSCI Emerging Markets Index will increase to 2.83% from 1.45%, based on Aug. 27 closing prices, the compiler said in a statement earlier this month. When the first part of the upgrade took place in May, share trading in the country leapt to almost $8 billion in a single day, the most in almost 13 years.
The heightened interest expected for Tuesday would be driven mostly by foreign investors who passively track MSCI indexes. Their purchases from abroad have helped the index in Riyadh outperform equities markets in developing markets this year.
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