Saudi stock exchange now full MSCI member, but market euphoria may fade - Reuters:
The Saudi Stock Exchange (Tadawul), the region’s largest market, has completed the second and final phase of joining the MSCI Emerging Markets Index, raising its weight on the closely monitored index to 2.8 percent.
Its inclusion has generated foreign inflows worth billions of dollars since the start of the year and has helped the Saudi index make double-digit gains. Those benefits may fade as trading wanes amid gloomy economic conditions.
“Full inclusion in the MSCI Emerging Market Index represents an important milestone in advancing the Saudi capital market and further opening Tadawul to international investors,” Khalid al-Hussan, Tadawul’s chief executive, said in an exchange filing on Thursday.
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