Saudi Stock market

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Written by:

Ellen E


Date added:

February 27, 2016








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4 / 869


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As a "closed-end" fund, SAIF limited foreign money in the Saudi market to the $250 million initial size of the fund when launched in 1997. The combination of this news, the continued strength of oil prices, and the drumbeat of economic reforms being announced in Riyadh, has given a strong boost to the Saudi market...
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Before the Minister's announcement, the market had already moved up about 20 percent for the year so far. Since the announcement, the market has added another 10 percent gain so the market at this writing is up over 30 percent in 1999. Volumes of trading have also grown. Through mid-November, days when 6 million shares have traded have been common, whereas the averages trading day was under a million shares for the first half of the year...
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