Saudi Stocks Jump to 2008-High on Foreign Access, MSCI Prospect
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Saudi shares climbed to a six-year high after the country’s market regulator said it would open the Arab world’s biggest bourse to international investors by the middle of 2015. MSCI Inc. said the exchange may be classified as emerging markets by 2017 at the earliest.
The Tadawul All Share Index rose 2.8 percent to 10,025.14 at the close in Riyadh, the highest finish since May 2008. Saudi Basic Industries Corp., the world’s biggest petrochemicals producer, led the gains with a 6.7 percent advance. Etihad Etisalat Co. added 5.1 percent, while Al Rajhi Bank climbed 2.2 percent.