Investors Gear Up for Opening of Saudi Stock Market
(Institutional Investor – March 2015)
The price of oil may be depressed, but investor spirits in Riyadh are anything but. Anticipation is growing that a long-awaited opening of the Tadawul, the Saudi stock market, to foreign investors will come as early as next month. Analysts believe the move will provide fresh momentum for the $500 billion market, which has risen by nearly 30 percent since mid-December. “This will be the event of the year in emerging markets,” says John Sfakianakis, a veteran economist and investment strategist in Riyadh who opened an office there in September for the London-based emerging markets specialist Ashmore Group.