Saudi Stocks Most Expensive Versus Qatari Peers This Year: Chart

Saudi Arabian stocks this week traded at the most expensive relative to their Qatari peers since last year, a gap that’s now narrowing. Valuations on members of the kingdom’s benchmark index rose after MSCI Inc. earmarked the nation for potential emerging-market classification, while Qatari stocks fell after a Saudi-led bloc cut air, land and sea links with the Gulf state. Saudi equities “have become too expensive,” said Mazen Al-Sudairi at Al Rajhi Capital, who expects the correction to continue.

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