Foreigners Buy Saudi Stocks as Index Calls Loom, Oil Gains
- Last week, foreigners were net buyers by the most since 2015
- Bets on classification as emerging market are increasing
This article is for subscribers only.
Foreign investors are piling into Saudi Arabian stocks, counting on the country’s inclusion in emerging-markets indexes at a time when the outlook for oil prices is improving.
Foreigners were net buyers of more than 5.5 billion riyals ($1.47 billion) of shares for 11 straight weeks this year, according to data provided by Saudi Arabia’s stock exchange. Last week, they bought 1.375 billion riyals in shares, more than in any other week since Bloomberg started compiling the data in October 2015.