Saudi stock market continued to surge in 2005
According to Global, the Saudi stock market continued to surge in 2005 as well on the back of strong investors’ interest in the stock market. The Saudi market ended the year with the whopping yearly gain of 103.7% on the back of yearly gains of 84.9% and 76.2% reported in 2004 and 2003 respectively. The market capitalization of the Saudi stock exchange at the end of 2005 stood at US$645.9bn, registering a growth of 111% over US$305.9bn reported at the end of previous year. This is attributed to the reform pursued by the government, strong earnings by the corporates, high liquidity and positive investors’ sentiments on the bourses.