S&P Dow Jones to classify Saudi Arabia as emerging market

      Published on Sunday, 29 July , 2018      58 Views     
S&P Dow Jones to classify Saudi Arabia as emerging market


Index compiler S&P Dow Jones Indices will change the status of Saudi Arabia’s bourse from a stand-alone market to an emerging market, following similar moves from MSCI and FTSE.



In a statement S&P DJI said it will add Saudi stocks with a 50 percent weighting on its global index in March 2019.

In September 2019, the weightings will adjusted to 100 percent.

The statement added that the move is “in response to positive structure reforms to support foreign investment and a strong consensus among members of the investment community.”

In March, FTSE Russell announced it would upgrade the kingdom to an emerging market, which was followed by a similar MSCI announcement in June.

According to UBS Global Wealth Management’s chief investment office, the MSCI inclusion should translate into $10 billion from passive and $35 billion from active investments, compared to $5 billion in inflows stemming from the FTSE inclusion.



In a statement, UBS noted that potential IPOs and an increased quota for foreign investor holdings might trigger additional inflows in coming months, with the market supported by fundamentals including higher energy prices and an ongoing recovery of corporate earnings.

Keywords:
Category Business | 2018/07/29 latest update at 1:00 PM
Source : Arabian Business | Photocredit : Google
59 Views
Comments Add comment



Related Articles

The editorial staff of Saudi Arabia Today would like to give all of its readers from Gulf and Saudi Arabia and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Saudi Arabia Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.


Sponsored Publications



STEP Conference To Make Its Mark In Saudi Arabia In March
Saudi Arabia Saudi Arabia news

STEP Conference To Make Its Mark In Saudi Arabia In March

STEP Conference is getting all set to launch its first summit in the Kingdom of Saudi Arabia in Riyadh on…

Oman tourists expected to rise to 3.5m by 2023

Saudi Arabia new rules

Property prices continue to fall in key UAE markets

King Salman receives Kuwait’s National Assembly Speaker in Riyadh King

King Salman receives Kuwait’s National Assembly Speaker in Riyadh

King Salman received Kuwait’s National Assembly Speaker Marzouq Al-Ghanim and other members of the Assembly at Al-Yamamah Palace…

Saudi Arabia: King Salman welcomes Lavrov to Riyadh Gulf TV, Saudi Arabia

Saudi Arabia: King Salman welcomes Lavrov to Riyadh

King of Saudi Arabia Salman bin Abdulaziz Al-Saud received Russian Foreign Minister Sergei Lavrov and his Russian delegation…

Saudi king meets Russian foreign minister in Riyadh King

Saudi king meets Russian foreign minister in Riyadh

Saudi Arabia’s King Salman met Russian Foreign Minister Sergei Lavrov in Riyadh on Tuesday, footage on the Russian…

King Salman receives dignitaries in Riyadh King

King Salman receives dignitaries in Riyadh

The Kingdom’s Grand Mufti Sheikh Abdul Aziz Al-Asheikh, senior scholars, ministers and a group of citizens called on…

GULF TV

Popular in GULF TV

PIRELLI “DREAMING” – THE CAL 2019 making of Full Version | Fashion Channel

1990 Views

A photographic tale of the aspirations of four women and their determination to achieve their goals, each one…

Latest videos in GULF TV

Events

Lifestyle

Culture

Sport

Science & Technology

Government