Saudi stock exchange takes a downturn in October
The Saudi Arabian Monetary Agency (SAMA) reported a 53 percent decrease in trade activity on the local stock exchange on Monday, November 5. The value of shares traded in October stood at five billion Saudi Riyals ($1.3 billion), down from SR 10.6 billion ($2.8 billion) in September, reported Al-Watan.
The number of traded stocks fell by 67 percent from 100 million in September to 33.3 million in October. Transactions on the Market decreased from 77,600 to 33,500 during the same period.
The Saudi Arabian Stock Market is the largest in the Arab world, producing $58 billion in capital. The number of joint stock trading companies has increased steadily to a listed 70 firms.
The market is supervised by SAMA, which in 1997 approved the contribution of international investors to the Saudi stock market through mutual funds. — (menareport.com)
© 2001 Mena Report (www.menareport.com)