Arab Today, arab today saudi stock market changes \gradual\
Last Updated : GMT 18:50:25
Arab Today, arab today
Arab Today, arab today

Saudi stock market changes \'gradual\'

Arab Today, arab today

Arab Today, arab today Saudi stock market changes \'gradual\'

Riyadh - Arabstoday

Saudi Arabia\'s long-awaited opening of its stock market to foreigners will be \"gradual\", the country\'s capital market regulator said on Tuesday. \"It is still within our strategy, but it should be done in an orderly and gradual manner to make sure it does not impact the market\'s stability,\" Abdulrahman al-Tuwaijri, chairman of the Capital Market Authority (CMA), said at a meeting with executives from listed companies that was attended by reporters. \"This gradual manner will happen, but we need time to make it happen in a safe and orderly manner. We also need to make sure it will not have any negative impact on the market.\" The plan to widen foreign access to Saudi shares via limited direct ownership has helped to boost the stock market in the last several months. Analysts have predicted the market, the largest in the Arab world, could open this year, but the CMA has not given a date and Tuwaijri did not say anything concrete about timing on Tuesday. \"Some people worry that if you further increase the inflow of capital right now when the markets are finally booming you will end up with another bubble. You want to do it in a way that\'s beneficial for the market and you don\'t want a correction very soon after you\'ve taken that step,\" said Jarmo Kotilaine, chief economist at National Commercial Bank in Jeddah. The TASI all-share index has risen by 23.6 percent since the start of the year after the world\'s top oil exporter recorded 2012 economic growth of 6.8 percent on the back of strong energy markets and lavish government spending. The market suffered two sharp corrections in 2006, losing more than half its value. Other analysts have pointed to higher Middle East political risk and regulatory changes in sharing oversight between the CMA and central bank as reasons any further market opening might be delayed. Foreigners can already buy Saudi shares through swap deals made by international investment banks, and via a small number of exchange-traded funds (ETFs). \"It\'s a very important thing for the Saudi economy. At the moment there is more speculation than investment in the market. When the foreigners come they will put more pressure on the companies and other investors to invest in the correct way,\" said Hesham Abo-Jamee, chief executive of Bakheet Investment Group in Riyadh. The CMA is considering allowing qualified foreign investors to take a capped share in each Saudi company, with international buyers able to own a total of around 20 percent of the market\'s value, according to proposals circulated to the financial industry last year. \"Foreign investors already exist in the market through swap agreements...also ETFs are available for foreign investors,\" Tuwaijri noted at the meeting in the offices of the Saudi Chambers of Commerce. \"The percentage of foreign investors is still low at 3-4 percent,\" he added.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today saudi stock market changes \gradual\ Arab Today, arab today saudi stock market changes \gradual\

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 15:41 2017 Sunday ,26 February

Ooredoo Posts 4 Pct Increase in Net Profit in 2016

GMT 14:44 2017 Sunday ,26 February

Muscat shares fall on local selling

GMT 06:44 2017 Sunday ,26 February

Doubts grow over American stock market’s surge

GMT 06:26 2017 Sunday ,26 February

Copper recovers lost ground

GMT 15:53 2017 Saturday ,25 February

Bahrain Bourse daily trading report

GMT 14:28 2017 Saturday ,25 February

Gold hits 3.5-month high
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday