Foreign Flows Are Resuming to Saudi Stocks After October Exodus
- Foreigners buy $3.4 billion worth of Saudi stocks in two weeks
- Investors monitoring geopolitics, oil prices, economic growth
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Foreign investors are snapping up Saudi stocks after last month’s rush for the exit, as investors weigh attractive equity valuations against the impact of the Israel-Hamas war in the Middle East.
Net inflows have extended for a second week after October saw the largest monthly net redemptions of 2023, according to data from the stock exchange. International traders have bought 12.7 billion riyals ($3.4 billion) of Saudi stocks so far in November, after they sold 26 billion riyals the month prior, resulting in net outflows.