$1.7b flew out of Saudi markets last month

Record foreign selling of Saudi Arabian stocks last month put the brakes on a 10-month streak of international investments in the Middle East’s five biggest stock markets.

Net foreign outflows from Saudi Arabia were $1.7 billion, while most other markets had inflows, according to a report by Mohammad Al Hajj, a strategist at the research arm of EFG-Hermes Holding SAE in Dubai. Total outflows from the region were $1.4 billion.

Volatility in the main Saudi stock gauge surged after Jamal Khashoggi’s murder.

(Staff Report)