Saudi Stocks Could Be Way Up, Then Down, in 2019
- Inflows to give way to selling before Ramadan: Nomura Asset
- Saudi company profits set to stagnate, Kuwait Financial says
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For Saudi equities, 2019 may be a story of two halves.
The kingdom’s stocks are set to rally in coming months as billions of dollars gush into the market following its inclusion in two key developing-nations equity benchmarks. But that may give way to selling before Ramadan, the month of fasting that begins in May, as concerns over reforms and oil prices move back to center stage, according to Nomura Asset Management.