Riyadh –   The Saudi Stock Exchange (Tadawul) is expected to attract foreign investments ranging between SAR 100 billion and SAR 150 billion in the coming period, especially after listing on the global indices, public relations manager Sulaiman Al-Askar said.

 Foreign investors’ trading volume amounted to SAR 18.5 billion by the end of May, Al-Askar told Okaz newspaper.

The official further noted that the number of foreign investors in the Saudi bourse reached 191, expecting to increase by 28% soon, especially after adding Tadawul to the indices of MSCI Emerging Markets (EM) and FTSE Russell Emerging Market (EM).

The market capitalisation of the Saudi bourse,  the largest stock market in the MENA region, reached around SAR 1.9 trillion.

Tadawul ranks seventh in the list of emerging stock markets and its listed firms rose to 198 during the first quarter of 2018, compared to 111 in the year-ago period.

The MSCI index upgraded Tadawul to an EM status from a standalone market, while FTSE Russell stated that it would list the bourse as a secondary EM in March 2019.

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