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New Saudi King Seen Allowing Foreigners Into Stocks as Promised

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The new Saudi Arabian king’s pledge to maintain the oil-rich nation’s policies is giving money managers confidence that plans to open up the region’s biggest stock market to foreigners won’t be derailed by the royal transition.

Former monarch Abdullah, who died yesterday at the age of 90, helped drive a 26 percent stock rally in the past four years with a $130 billion spending plan to boost non-oil industries. King Salman, his 79-year-old successor, said he will continue the strategy, while a royal decree signaled continuity in policy by affirming all ministers will stay in their posts.