Saudi Arabia's Tadawul to attract $5bln in second phase of MSCI upgrade | ZAWYA MENA Edition:
Having completed its full inclusion on the MSCI emerging markets index, Saudi Arabia’s stock exchange, the Tadawul, is expected to attract an additional $5 billion (18.36 billion dirhams) in equity inflows, according to the Institute of International Finance (IIF).
Saudi Arabia’s stock market, worth approximately $549 billion, is the largest in the region. It will have a weight of 2.8 per cent on the MSCI index.
Investor appetite for Saudi equities spiked in August, and foreign equity inflows to the kingdom surpassed those of India and China during first eight months of this year. The IIF has hailed this as a “remarkable” development given that Saudi Arabia’s economy is just a fraction of the size of the two other countries.
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