Khalid Abdullah Al Hussan, the Chief Executive Officer of Tadawul/Bloomberg
The Saudi stock exchange will join the FTSE Russell and MSCI's Emerging Market indexes in the first half of this year.
Sunday 03, March 2019 BY KUDAKWASHE MUZORIWA
The Chief Executive of Tadawul said that the Kingdom’s stock exchange expects passive fund inflows of $15 to $20 billion this year as it gears up for inclusion in the emerging market index, reported Reuters.
Foreign investors have ploughed more than $1.5 billion into the Saudi market and the Saudi index is up nearly eight per cent since the start of the year.
Khalid al-Hussan, the Chief Executive Officer of Tadawul, said that he is not concerned that foreign fund inflows would cause any excess liquidity, as the flows would be gradual.
Tadawul has a total market capitalisation of around $535 billion, with a free float of about 40 per cent.